OpenAI investors disappointed by Q2 2026 results
OpenAI revenue grew by 18% in the second quarter of 2026 to $6.7 billion, while operating losses increased to $12.3 billion for the same period.
Consensus
- OpenAI's revenue grew by 18% in Q2 2026 to $6.7 billion
- OpenAI's operating loss increased to $12.3 billion in Q2 2026
- Anthropic nearly doubled its revenue to $11.6 billion in the same period
- Anthropic achieved a small operational profit in Q2 2026
- OpenAI began restructuring its leadership and business model in response to competitive pressure
- OpenAI reduced prices on its models due to competition from cheaper Chinese alternatives
- The Wall Street Journal (WSJ) reported on investor disappointment with OpenAI's financial performance
Points of divergence
- OpenAI's operational margin decreased further, distancing it from profitability ahead of its anticipated IPO — vedomosti
- Anthropic's valuation surpassed OpenAI's in early 2026, making it the world's most valuable AI startup — vedomosti
- Anthropic reported 'improved efficiency in using computing resources' and excluded stock-based compensation from its profit calculation — kommersant
- It is unclear what methods Anthropic used to calculate its adjusted profit — kommersant
- OpenAI's growth accelerated after the launch of new models in July 2026 — vedomosti
- OpenAI's commercial director Denis Drescher and other top managers were dismissed — kommersant
- OpenAI's growth acceleration was attributed to new model launches in July 2026 — vedomosti
Coverage (2 sources)
- WSJ learned about investor disappointment with OpenAI's financial results — Ведомости
- WSJ: OpenAI shareholders disappointed by performance in race with Anthropic — Коммерсантъ