OpenAI posts steep losses as quarterly revenue reaches $10 billion
OpenAI's quarterly revenue has reached $10 billion, even as the company runs steep losses. The figures put the artificial intelligence developer's sales at a scale few software firms reach, but they also expose how heavily it is spending to get there.
The loss figures matter beyond one company. OpenAI sits at the centre of the AI investment boom, and its finances are watched by the investors, lenders and listed technology firms whose valuations lean on the same trade. Revenue growth without profit leaves the question of who ultimately funds the build-out.
Details of the loss and the period covered have not been set out in a public filing. The company has not published audited accounts of the kind a listed business would disclose.
The wider market has begun to test the AI trade. Junk bonds have been cracking at the bottom of the credit market, and investors have been moving money out of AI-linked positions — a shift that makes the cost side of OpenAI's ledger more consequential for everyone financing the sector.
