OpenAI has crossed a milestone no artificial intelligence company has reached before: quarterly revenue of $10 billion. The ChatGPT maker brought in the sum in the three months to the end of September 2026, according to a person familiar with the matter, in figures first reported by The Information on Tuesday and carried by Bloomberg. Revenue rose by nearly 50 percent from the previous quarter and almost tripled from a year earlier, on strong demand for the company's latest AI software. It marks a sharp turn in the race between the two leading AI laboratories, as rival Anthropic's once-explosive growth begins to slow.

Key Points

• OpenAI's quarterly revenue hit $10 billion for the first time in the three months ended September 2026, a person familiar with the matter said.
• Revenue rose nearly 50% from the prior quarter and nearly threefold from a year earlier, on strong demand for OpenAI's latest AI software.
• The details were shared with investors on a call on Tuesday, November 10, 2026; OpenAI declined to comment.
• Anthropic reported about $17 billion in the third quarter, but growth slowed to about 47% from the second quarter, after a rise of more than 140% the quarter before.
• OpenAI is completing a funding round at a $1.25 trillion valuation after delaying its IPO plans to 2027, with an initial $11 billion part already closed.

What Happened

The figures were first reported by The Information on Tuesday, November 10, 2026, citing a person familiar with the matter, and carried by Bloomberg. OpenAI shared the details with investors on a call the same day. The company declined to comment; the numbers have not appeared in any official filing, as OpenAI is private and does not report results publicly.

The $10 billion is the first time the company has reached that level in a single quarter. The report puts the surge down to strong demand for OpenAI's latest AI software. It also adds two qualifications: OpenAI's losses are growing alongside its revenue, as it spends heavily on the computing power behind its products, and the two companies have historically calculated revenue differently, so their numbers are not directly comparable.

Background: How OpenAI Fell Behind, Then Caught Up

The $10 billion quarter caps a year of comebacks for OpenAI. During 2026 the company slipped behind Anthropic by some measures, as its rival's models won praise and its revenue grew at a remarkable rate. Anthropic, now nearing its landmark debut on Wall Street, had been setting the pace between the two laboratories.

OpenAI answered with competitive new AI models, aggressive price cuts and a greater focus on AI agents, software that carries out multi-step tasks for a user rather than simply answering questions. Demand has restored its momentum, and the gap is closing fast. OpenAI is also completing a round at a $1.25 trillion valuation, with an initial $11 billion part already closed, Bloomberg previously reported, and has delayed its IPO plans to 2027.

OpenAI Revenue Growth: What the $10 Billion Quarter Means

A $10 billion quarter is, on an annualised basis, a business running at roughly $40 billion of revenue a year. Few software companies of any kind have reached that scale, and it took a fraction of the time the giants of the last technology era needed. It is the clearest evidence yet that AI has become a commercial product millions will pay for.

The growth rate matters as much as the level. A near-50 percent jump in one quarter, on top of a near-tripling over the year, points to demand still expanding rather than levelling off. Price cuts helped: cheaper models widened the customer base, and usage volumes more than made up for lower prices. Anthropic's third-quarter revenue of about $17 billion is still larger, but its growth has slowed sharply, to about 47 percent from the second quarter, after a rise of more than 140 percent the quarter before. OpenAI is accelerating while Anthropic's growth cools.

Reactions and Quotes

OpenAI declined to comment on the figures reported by The Information and has issued no public statement about its third-quarter performance. The numbers reached the public through the investor call on Tuesday and through the person familiar with the matter who spoke to The Information. The reporting itself is part of the story: it stresses both sides of OpenAI's ledger, record revenue and growing losses, as the company pours money into data centres and computing capacity. That tension, between a business growing at historic speed and the enormous cost of sustaining it, is now the central question over the whole AI industry.

Why It Matters

The $10 billion quarter answers the question investors have asked all year: whether the huge sums flowing into artificial intelligence are producing real businesses, or only promises. OpenAI's numbers show customers paying, in large numbers and at growing rates, for AI software. That is the foundation on which the industry's enormous valuations rest. It also matters for the contest at the top. For much of 2026, Anthropic looked as if it might pull away from OpenAI. The third-quarter figures suggest a different picture, with OpenAI regaining momentum through new models, lower prices and a push into AI agents. The numbers also frame the funding round: a $1.25 trillion valuation rests on this growth continuing and the spending eventually producing profits.

What Happens Next

The immediate next step is the completion of OpenAI's funding round at the $1.25 trillion valuation, with the initial $11 billion part already closed. Investors will watch the final size of the round and who joins it. Anthropic's stock market debut is the other event to watch: its roadshow has begun, and the market's reception will be a verdict on the whole AI sector. OpenAI itself will not go public until 2027. Until then, its performance will be judged through reports like this one and the next figures shared with investors. The question for the coming quarters is whether the demand behind a $10 billion quarter keeps growing, and whether the losses that came with it begin to narrow.

Frequently Asked Questions

How much revenue did OpenAI make in the third quarter of 2026?
$10 billion, the first time it has reached that level in a quarter, in the three months ended September 2026, .

How fast did OpenAI's revenue grow?
Nearly 50% from the previous quarter and nearly threefold from the same period a year earlier, on strong demand for its latest AI software.

How does Anthropic compare?
Anthropic reported about $17 billion, larger than OpenAI's, but its growth slowed to about 47% from the second quarter, after a rise of more than 140% the quarter before.

Why did OpenAI's revenue jump?
Strong demand for its latest AI software, after competitive new models, aggressive price cuts and a greater focus on AI agents.

Is OpenAI going public?
Not yet: its IPO plans are delayed to 2027, and it is completing a funding round at a $1.25 trillion valuation.

Related Reading

Read more on US News Pulse: OpenAI Closes $11 Billion Funding at $1.25 Trillion Valuation; Anthropic IPO Roadshow Begins After $70-$80 Range Pulled; OpenAI to Press Ahead With Data Centre Expansion.