OpenAI’s adjusted operating margin improves from -150% to -109%

The AI giant is still losing more than it earns on an adjusted basis, but the gap narrowed sharply in Q3 as revenue climbed OpenAI is still losing more money than it brings in. It is just losing it a bit more efficiently. The company reported that its adjusted operating margin rose from -150% in Q2 to -109% in Q3. That is a 41-point swing in a single quarter, and it marks a notable shift for a business best known for spending heavily on computing power. A -109% margin means OpenAI spent a little more than two dollars for every dollar of revenue, on an adjusted basis. Progress, in other words, still looks a lot like a loss.

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