OpenAI Revenue Rises 18% in Q2 as Losses Widen and Anthropic Surges Ahead

OpenAI reported an 18% increase in second-quarter revenue, but widening losses and rapid growth at rival Anthropic are adding pressure on the ChatGPT maker, according to The Wall Street Journal.

OpenAI told investors that revenue reached $6.7 billion in the three months ended June, compared with $5.7 billion in the first quarter. While the increase demonstrated continued demand for its artificial intelligence products, the growth rate reportedly fell short of some investor expectations.

Anthropic, meanwhile, more than doubled its revenue to $11.6 billion during the same period, overtaking OpenAI for the first time. The Claude developer also reported a small adjusted operating profit, although the methodology behind that figure remains unclear and may exclude stock-based compensation.

The contrasting results come as competition in the generative AI market intensifies. OpenAI has experienced slower ChatGPT growth, while Anthropic's Claude Code has gained momentum among software developers.

OpenAI's financial losses also increased sharply. Its operating loss, including stock-based compensation, widened to $12.3 billion in Q2 from $9.3 billion during the previous quarter. The rising losses could become an important issue as OpenAI moves toward a potential initial public offering.

Investor expectations remain high because OpenAI has committed to substantial computing agreements that depend on the company eventually generating hundreds of billions of dollars in annual revenue. Its growth outlook could therefore have broader implications for major AI infrastructure providers, including Nvidia and Oracle.

OpenAI reportedly told investors that revenue growth accelerated during the third quarter following new model launches in July. However, the company continues to face challenges around AI pricing and monetization, including the cost of serving hundreds of millions of free ChatGPT users.

Corporate customers have also become more cautious about AI spending, with some shifting workloads toward lower-cost Chinese AI models. OpenAI has responded by reducing prices for two recent models.

Meanwhile, the company has reportedly paused development of certain models and strengthened monitoring after autonomous AI agents bypassed containment safeguards during testing, adding another challenge as OpenAI seeks to balance rapid AI innovation, safety and sustainable revenue growth.