According to its own figures, OpenAI increased revenue by 50 percent to around 10 billion US dollars in the third quarter, but at the same time increased its loss again, to 10.9 billion US dollars from 10.1 billion in the previous quarter. The Wall Street Journal reports this, citing information the AI company has made available to investors. This leaves the once-leading AI company behind its rival Anthropic, which reported revenue of 17 billion US dollars and a loss of 567 million US dollars in the same quarter. The figures, however, are not directly comparable: According to the US newspaper, OpenAI’s losses do not include equity-based compensation, a hefty 2.6 billion US dollars. Anthropic does include it.
Overtaken by Anthropic
As the Wall Street Journal continues to report, the third quarter appears to have gone better overall for OpenAI than the two preceding quarters. According to third-party data, the company behind ChatGPT was able to gain ground on Anthropic because businesses were looking for more cost-effective alternatives to the rival’s Claude models. Just a few days ago, OpenAI president Greg Brockman explained that the first two quarters had been “hard.” Even then, however, he had spoken of an “incredible turnaround in revenue” achieved in the most recent quarter. Even so, the company is still far from being profitable.
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