OpenAI's adjusted net loss margin reached 122% in the first quarter, and its annual revenue run rate has been surpassed by its competitors.

According to Dynamic Beating monitoring, OpenAI achieved approximately $57 billion in revenue in the first quarter of 2026, leading its competitor Anthropic by about $10 billion. However, Anthropic's annualized revenue has recently reached nearly $450 billion, surpassing OpenAI's $300 billion in annualized revenue.

OpenAI's first-quarter growth was mainly driven by the Codex code AI, enterprise sales, and ChatGPT ad testing. Although OpenAI is on track to achieve its $300 billion revenue target for 2026, the adjusted operating profit margin in the first quarter dropped to -122%, meaning a net loss of $1.22 for every $1 of revenue generated (excluding large items such as equity incentives). Benefiting from its first-quarter performance, OpenAI secured $122 billion in new financing from suppliers like Amazon and NVIDIA, while Anthropic is seeking $300 billion in financing. Both companies plan to potentially launch their initial public offerings as early as the fourth quarter of 2026.

On the user side, ChatGPT had an average of 905 million weekly active users in the first quarter, slightly down from its peak of 920 million in February and below OpenAI's previously set goal of 1 billion users. OpenAI had warned employees last year that Google's integration of Gemini into its search infrastructure would bring competitive pressure. However, since the launch of GPT-5.5 in April and the latest image generation models, user growth for ChatGPT has reaccelerated. In terms of paid subscriptions, ChatGPT had 55 million individual paid users in the first quarter, up from 47 million at the end of 2025. As part of its plans, OpenAI aims to achieve $102 billion in annual revenue through ChatGPT's ad business by 2030.