OpenAI reportedly posts first $10B quarter, up ~50%, and closes funding at $1.25T valuation

OpenAI has reportedly crossed a major revenue milestone. People familiar with an investor call say third-quarter revenue exceeded $10B, the company's first quarter at that level, with growth of roughly 50% from the previous quarter. The company also closed a financing round that values it at $1.25T.

The figures come from secondhand investor-call reporting rather than audited filings, since OpenAI is still private. A 50% quarter-over-quarter increase at a $10B base suggests revenue is broadening beyond ChatGPT subscriptions into enterprise contracts, API usage and new commerce channels. OpenAI is adding monetization paths quickly. This week it launched Businesses in ChatGPT, letting companies claim profiles and deploy sales agents to reach more than 1.2 billion weekly users. ChatGPT Enterprise is now on AWS Marketplace, and Codex can run on Amazon Bedrock. OpenAI also described Control Room, an internal system for tracking and halting research workloads when safety concerns arise.

The competitive context is sharp. Anthropic is pricing an IPO at $70–$78 per share for a November 19 debut, giving public markets a direct comparison. On Reddit, sentiment has shifted somewhat: a r/OpenAI thread titled 'OpenAI is getting left in the dust right now' drew 262 comments, and r/ChatGPT users criticized GPT-6 Instant. Strong revenue numbers counter the perception that OpenAI has lost its lead, at least commercially.

Caveats: the numbers are unverified, revenue recognition at a private company can vary, and the reports do not address costs. OpenAI's compute spending is enormous, and profitability matters more as the valuation approaches public-market comparisons. Watch for confirmation from OpenAI, the breakdown between consumer and enterprise revenue, and whether the $1.25T valuation holds if Anthropic's IPO resets how investors value frontier labs.