OpenAI’s Financials Leaked — The Losses Are Staggering

According to leaked financials, OpenAI's revenue reached $13 billion last year.

According to leaked financials, OpenAI's revenue grew more than 250% from 2024.

Leaked financials indicate that OpenAI had a net loss of $39 billion last year.

OpenAI has filed for an IPO and plans to go public later this year.

Last year, OpenAI spent approximately $34 billion to generate $13.07 billion in revenue.

Ed Zitron asserts that the key figure from OpenAI's leaked financials is a $21 billion loss from operations.

OpenAI's spending last year included $7.5 billion on cost of revenue, $19.18 billion on R&D, and $5.73 billion on sales and marketing.

SoftBank accounted for $867 million, or approximately 6.6%, of OpenAI's revenue last year.

A source familiar with OpenAI's financials claimed the high net loss was due to a $30 billion non-cash charge for investor rights as the company's valuation increased.

A source familiar with OpenAI's financials argued that after adjusting for non-cash charges, the company's 'real' net loss is closer to $8 billion.

OpenAI stated in legal proceedings related to the Musk trial that it plans to spend $50 billion on compute in 2026.

Ed Zitron speculates that based on current spending, OpenAI could be burning $80 to $90 billion in 2026.