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00:02OpenAI's revenue rose nearly 50% to $10 billion in the third quarter,
00:08but the company continued to report heavy operating losses, according to The Wall Street Journal.
00:13The company told investors Tuesday that its adjusted operating margin improved from negative
00:18150% in the second quarter to negative 109% in the third quarter. However, operating losses
00:26increased from $10.1 billion to $10.9 billion. Rival Anthropic reported third quarter revenue
00:34of $17 billion and an operating loss of $567 million ahead of its anticipated IPO next week.
00:43OpenAI has cut prices on its latest AI models to gain market share in the enterprise market.
00:49The company also hired Dali Rajek as chief revenue officer to focus on the growing business segment.
00:54For all things money, visit Benzinga.com.
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