---
title: "OpenAI Accelerates While Anthropic Slows: Quarterly Revenue Hits $10B for First Time"
description: "OpenAI's revenue in Q3 2026 reached $10 billion for the first time, nearly tripling year-over-year, while Anthropic's growth slowed down. The company is nearing a $1.25 trillion valuation."
date: 2026-11-11T10:06:55.363Z
lang: en
url: https://xab.info/en/posts/openai-revenue-10b-anthropic-slows
tags: [openai, anthropic, ai-revenue, chatgpt, ipo, ai-agents]
author: "Alexander Buran"
publisher: "XAB.info"
---

# OpenAI Accelerates While Anthropic Slows: Quarterly Revenue Hits $10B for First Time

![Laptop displaying financial analytics and stock charts on a wooden office desk](https://xab.info/media/2026/11/11/openai-vyruchka-10-mlrd-anthropic-zamedlilas/openai-vyruchka-10-mlrd-anthropic-zamedlilas-1.webp)

## Key Points

- OpenAI's Q3 2026 revenue hit $10 billion for the first time, up 50% quarter-over-quarter and nearly tripling year-over-year.
- Adjusted operating margin improved from −150% to −109%, with annualized revenue at the end of September around $50 billion.
- Anthropic's growth slowed to ~47% with ~$17 billion in revenue; OpenAI is finalizing a round at a ~$1.25 trillion valuation, postponing its IPO.

According to informed sources wishing to remain anonymous, OpenAI's revenue for the third quarter of 2026, which ended in September, reached $10 billion for the first time in the company's history. This represents a 50% growth compared to the second quarter and a nearly threefold increase year-over-year. Since OpenAI is not a public company and is not required to disclose quarterly reports, the financial information is not intended for official distribution and became known through channels close to management.

### Record Revenue and Growth Momentum

The key driver of this result was high demand for the company's newest generative AI models. Earlier in 2026, OpenAI lagged behind its main competitor Anthropic on several metrics, but the launch of fresh models, price cuts, and a shift in focus toward the AI agents segment — tools enabling clients to automate workflows — allowed the ChatGPT developer to regain momentum. Against this backdrop, the company's business is showing signs of acceleration.

### Improved Operating Margin and Annualized Figures

The company presented its financial results to investors during a video conference featuring OpenAI President Greg Brockman, CFO Sarah Friar, and Head of Product Thibault Sotto. According to them, the adjusted operating margin became less negative, improving from −150% in the second quarter to −109% in the third. Additionally, as of the end of September, OpenAI's annualized revenue stood at approximately $50 billion.

### Competitive Race with Anthropic

Amid OpenAI's acceleration, its competitor's growth rate began to slow down. At the end of the third quarter, Anthropic's revenue was about $17 billion, with quarter-over-quarter growth dropping to roughly 47%, compared to 140% in the previous three-month period. At the same time, the company emphasizes that OpenAI and Anthropic use different revenue calculation methodologies, making direct comparisons subject to caveats.

### Funding and IPO Plans

OpenAI is in the process of finalizing another funding round at a market valuation of about $1.25 trillion; according to a source, $11 billion has already been raised in the current round. The company has postponed its IPO until next year. Meanwhile, Anthropic is targeting a valuation of $1.4 trillion for its public stock offering scheduled for late November 2026.

### Methodological Caveats

It is important to note that all figures cited are based on anonymous sources and internal presentations rather than audited public reports. Differences in revenue accounting methods between the two leading generative AI market players further limit the precision of cross-company comparisons. Nevertheless, the overarching picture — OpenAI accelerating and Anthropic slowing down — is documented in multiple independent reports.

## Fact-Check & Sources

- [OpenAI ускорилась, пока Anthropic замедлилась: выручка взлетела почти втрое, а маржа стала менее отрицательной](https://3dnews.ru/1151143) - Primary source: OpenAI Q3 revenue $10B, 50% q/q growth and ~3x y/y, margin −150%→−109%, annualized ~$50B, valuation $1.25T, raised $11B, Anthropic Q3 ~$17B with slowdown to ~47%.
- [Anthropic впервые обошла OpenAI по квартальной выручке](https://www.rbc.ru/technology_and_media/19/08/2026/6a85d4c69a7947ad6c9ab233) - Q2 2026 context: OpenAI revenue $6.7B (+18%), operating losses $12.3B; aligns with the margin improvement trend toward Q3.
- [Выручка Anthropic за второй квартал 2026 года выросла в 14 раз](https://expert.ru/news/vyruchka-anthropic-za-vtoroy-kvartal-2026-goda-vyrosla-v-14-raz) - Anthropic Q2 2026 revenue $11.5B (14x growth compared to $787M a year earlier) — aligns with the high baseline from which Q3 growth slowed to ~47%.
- [OpenAI торопится привлечь $30 млрд, чтобы инвесторы не отдали деньги Anthropic](https://3dnews.ru/1150146/openai-nadeetsya-privlech-dopolnitelniy-kapital-do-ipo-konkuriruyushchey-anthropic-otseniv-svoyu-kapitalizatsiyu-minimum-v-14-trln) - Context: capital race ahead of Anthropic's November 2026 IPO; this article features target round parameters differing from the current $11B at a $1.25T valuation in the primary source — reflected as negotiating evolution rather than a discrepancy.

## FAQ

### How much was OpenAI's revenue in the third quarter of 2026?

According to anonymous sources, OpenAI's revenue in Q3 2026 (ending in September) reached $10 billion for the first time, up 50% from the second quarter and nearly triple compared to a year earlier.

### Did OpenAI's operating margin change?

Yes, the adjusted operating margin became less negative, moving from −150% in the second quarter to −109% in the third, as reported by company executives during an investor meeting.

### What is Anthropic's revenue and how is its momentum changing?

At the end of the third quarter, Anthropic's revenue was about $17 billion, and its quarter-over-quarter growth rate slowed to roughly 47%, compared to 140% in the second quarter.

### What are OpenAI and Anthropic's IPO plans?

OpenAI is closing a round at about a $1.25 trillion valuation (raising ~$11 billion) and has postponed its IPO until next year; Anthropic is targeting a $1.4 trillion valuation for its stock offering in late November 2026.

### How reliable are these figures?

The data is based on anonymous sources and internal presentations, as the company is private and does not disclose quarterly reports; furthermore, OpenAI and Anthropic use different revenue calculation methodologies, limiting comparison accuracy.