OpenAI continues to report heavy losses as revenue rises to USD 10 billion
Washington, Nov. 11 -- OpenAI's revenue rose by around 50 per cent in the third quarter from the previous three months to USD 10 billion, but its adjusted operating losses increased slightly to USD 10.9 billion, highlighting the challenge the artificial intelligence company faces in improving profitability despite accelerating sales, according to a news report by The Wall Street Journal (WSJ).
The company shared its latest financial figures with investors on Tuesday, showing that its adjusted operating margin improved to minus 109 per cent in the July-September quarter from minus 150 per cent in the second quarter. However, its adjusted operating loss rose from USD 10.1 billion to USD 10.9 billion during the same period, the report said....
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