OpenAI's Operating Losses Rise to $10.9 Billion in the Quarter
According to investor documents, OpenAI's revenue in the third quarter grew by approximately 50%, reaching $10 billion, while operating losses increased to $10.9 billion.
OpenAI's adjusted operating margin improved to minus 109% from minus 150% in the previous quarter. However, losses rose from $10.1 billion despite a significant increase in the ChatGPT developer's revenue.
The disclosure of financial results occurred amid heightened investor attention to companies' expenditures on artificial intelligence and the creation of necessary infrastructure. In particular, Anthropic is preparing for an IPO, in which it may be valued at approximately $1.4 trillion.
In its filing with the U.S. Securities and Exchange Commission, Anthropic stated that it intends to offer 825 million shares at a price ranging from $70 to $78 per share. Trading is planned under the ticker ANT.
Additionally, seven technology companies, including Google, Nvidia, AMD, and Microsoft, agreed to purchase $26 billion worth of non-voting shares in Anthropic at the IPO price. The deal is to be conducted as part of a separate private placement. These companies are either investors in Anthropic or major providers of computing power for it.
It was expected that Anthropic would raise up to $100 billion, which would make this IPO the largest in history.
