OpenAI told investors its revenue grew by 18% from the first to the second quarter, while its losses deepened, results that disappointed some shareholders who had hoped the startup would show more progress catching up to its rival, Anthropic. The company said its revenue grew to $6.7 billion in the three months ended in June, up from $5.7 billion in the first quarter. Meanwhile, its operating margin sank further into the red, pushing the company farther away from profitability ahead of a much-anticipated initial public offering, people familiar with the matter said. Anthropic more than doubled its revenue to $11.6 billion in the same period, marking the first time its sales surpassed its older rival. The company also swung to a small operating profit.

Full report : The ChatGPT-maker’s revenue disappointed some investors, although the company told them its growth accelerated in the third quarter.