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Welcome back, AI Admirers!
Breaking News: OpenAI made about $10 billion last quarter, its best ever. It also lost $10.9 billion. The ChatGPT maker is growing fast, but it still spends about $2 for every $1 it brings in.
Get ready to dive into the latest happenings in AI.
📢 Today's Headline:
OpenAI Lost $10.9B in 3 Months
Anthropic Takes On Microsoft Office
Google’s Strongest Model Is Here
Try This: A 2-Minute CFO Check on Your Numbers
Money Moves & Tools Worth Your Time
Today’s Poll and Results
Read time: 4 minutes. Short on time? Read By the Numbers and you’re caught up.
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By the Numbers
💸 $10.9 billion
OpenAI’s operating loss last quarter. That’s more than the $10 billion it made.
👥 1.2 billion
People who use ChatGPT every week. Over 100 million of them now pay.
📈 $20 billion
AI training startup Mercor’s new valuation, double what it was a year ago.
Hand-picked News
It made $10 billion. It spent about $21 billion to do it.
What happened: OpenAI told investors it brought in about $10 billion last quarter, up nearly 50% from the quarter before, when growth was only 18%. But its operating loss also grew, to $10.9 billion from $10.1 billion.
Why it matters: The business is getting healthier, just slowly. Losses shrank as a share of revenue, from -150% to -109%. Sales to companies doubled in one quarter and now make up half of all revenue, and ChatGPT has 1.2 billion weekly users.
What’s next: OpenAI wants to end the year earning at a $70 billion yearly pace, up from about $50 billion now. It has pushed its own IPO to 2027 at the earliest, while rival Anthropic goes public next week.
Every $1 OpenAI earned last quarter cost it about $2. Someone eventually has to pay the difference.
💡 What it means for you: Today’s cheap AI prices are being paid for by investors, not by you. If your work leans on these tools, keep a backup option in case prices rise.
Claude is no longer just the AI inside your apps. It wants to be the apps.
What happened: Anthropic launched Claude Sheets, a spreadsheet with AI built in, plus Claude Whiteboards for planning, Claude Data for live dashboards, and a meeting assistant that joins your video calls. Most of it is in beta for paid users.
Why it matters: Microsoft and Google are both Anthropic investors, and now both are competitors. Adobe, Atlassian and HubSpot can also run versions of their apps inside Claude, so you may not need to leave it.
What’s next: Anthropic admits Claude Sheets is “fairly basic” for now. Its IPO is next week, and its bankers are reportedly weighing a higher price than the $70 to $78 range because demand is so strong.
Launching a product suite in the middle of your IPO roadshow is a loud way to tell investors where the growth comes from.
👀 What to watch: Anthropic’s first days on the Nasdaq next week. If investors cheer the new apps, expect OpenAI and Google to fight back with office tools of their own.
Gemini 4 Carbon is built for the hard jobs, and it’s cheap for now.
What happened: Google released Gemini 4 Carbon to paid API users and AI Ultra subscribers in the Gemini app and AI Mode in Search. It’s made for long, multi-step work like tough debugging and scientific research.
Why it matters: Google says it ranks #1 on CursorBench 4.0 and Zapier’s AutomationBench at less than half the cost per task of the next-best rival. It also passed 92% of an honesty test, up from 70% for the older Gemini 4 Argon.
What’s next: The intro price of $2 per million input tokens doubles to $4 after November 30. Google says Argon is still the better pick for most everyday coding and office work.
The best model isn’t always the right model. Google said so itself.
🧠 Our take: Google telling people not to use its newest model for everyday work is rare honesty. For most tasks, cheaper and faster still wins.
Try This Today
⚡ Get a 2-minute CFO check on your numbers
OpenAI’s report shows how fast costs can outrun revenue. Find out if yours are. Copy this prompt into ChatGPT, Claude or Gemini and paste in your last 3 months of revenue and costs:
Act as a CFO. Here are my monthly revenue and costs for the last 3 months: [paste numbers]. 1) Calculate my profit margin each month and tell me if it’s getting better or worse. 2) Name my 3 biggest costs and one realistic way to cut each. 3) At this trend, how many months until I break even or double my profit? Keep it under 200 words.
Works for a side project, a team budget or a full company.
Quick Poll
Today’s Poll (one tap to vote):
OpenAI lost $10.9 billion in just 3 months. Is the AI boom a bubble?
Vote today, see the results tomorrow!
Previous Poll:
Anthropic could be worth $1.4 trillion when it goes public. Would you actually invest in Claude's creator?
A. Take my money! 💰 – 25%
B. That's way too risky 😬 – 75% 🏆
Most of you love using Claude but don’t want to own a piece of it. That makes sense. A company that lost $104 billion in nine months can be a great product and a scary stock at the same time.
Money Moves
🚨 A US senator tells Jensen Huang to resign - Sen. Kevin Cramer says the risk of extortion is too big, and lawmakers from both parties now want a federal probe.
📈 Mercor raises $750M at a $20B valuation - The startup that hires experts to train AI models doubled its value in a year.
☁️ CoreWeave’s revenue jumps 168% to $3.66B - The AI cloud provider now has $132.5B in future contracts lined up.
💍 Oura buys AI doctor service Counsel Health for $625M - The smart ring maker wants to turn your health data into medical advice.
Tools Worth Your Time
🛠️ Google Antigravity /swarm [Preview]
Type one prompt and it splits the job across a team of AI agents you can watch in real time, with a stronger model checking the others’ work.
Best for: developers who want to hand off a whole feature, not just one function.
🏪 Businesses in ChatGPT [Beta]
Businesses can now claim a profile inside ChatGPT and set up an AI agent that talks to customers for them.
Best for: anyone who runs a business. Claim your profile before customers start asking ChatGPT about you.
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