Leaked financial docs show OpenAI is losing billions of dollars a year

Key Points:

• OpenAI's revenues are rapidly growing, projected to increase from $3.7 billion in 2024 to $13.07 billion in 2025, with monthly revenues nearing $2 billion by the end of 2025.
• Despite revenue growth, OpenAI's expenses, particularly in research and development, have surged significantly, rising from $7.81 billion in 2024 to $19.18 billion in 2025, including $10.59 billion paid to Microsoft.
• The company's operating losses widened from $8.78 billion in 2024 to $20.92 billion in 2025, though losses as a percentage of revenue improved from 237% to 160%, indicating some operational efficiency gains.
• OpenAI's net loss ballooned to nearly $39 billion in 2025, largely due to a $30 billion non-recurring accounting charge linked to its transition to a for-profit structure, with adjusted net losses closer to $8 billion.
• To achieve profitability by 2030, OpenAI plans to reduce costs, particularly in R&D, while facing competitive and pricing pressures from enterprise customers and rivals like Anthropic; the company recently refocused on core products and raised $122 billion in funding at an $852 billion valuation.