Leaked OpenAI financials show $38.5B loss and compute burn
runtimewire.com
Leaked OpenAI financials show $38.5B loss and compute burn
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Re: Leaked OpenAI financials show $38.5B loss and compute burn
#2Companies losing that much money a year shouldn’t be allowed to IPO. It leaves the public markets holding the bag.
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#3ArsTechnica has a nice graph showing it
https://arstechnica.com/ai/2026/06/leaked-financial-docs-sho...
And I believe this is the actual source
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#4> OpenAI's spending mix shows why. The reported 2025 figures include $7.5 billion in cost of revenue, $19.18 billion in research and development, $5.73 billion in sales and marketing, and $1.57 billion in general and administrative expense
How the hell did they spend 5.7 billion in "sales and marketing"?
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#5> OpenAI's spending mix shows why. The reported 2025 figures include $7.5 billion in cost of revenue, $19.18 billion in research and development, $5.73 billion in sales and marketing, and $1.57 billion in general and administrative expense How the hell did they spend 5.7 billion in "sales and marketing"?
Might be bribes and subsidies
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#6> OpenAI's spending mix shows why. The reported 2025 figures include $7.5 billion in cost of revenue, $19.18 billion in research and development, $5.73 billion in sales and marketing, and $1.57 billion in general and administrative expense How the hell did they spend 5.7 billion in "sales and marketing"?
Discounted contracts for big clients? Commissions? Both?
If this can be trusted, they are selling $1 for ~95 cents, and are spending $3 on R&D. This is... Not an unsustainable business model as long as the money keeps flowing.
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#7Literally, the largest scam ever made.
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#8Revenue is higher than cost of revenue and revenue is growing faster than cost of revenue.
We know OpenAI is forecasting $25-30B revenue for 2026. They will be very close to breaking even at those number.
Given Anthropic has forecast more revenue than OpenAI and we know has spent less on R&D (cite their desperate scramble for compute capacity!) the rumours of them being profitable this year seem very credible.
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#9Revenue is higher than cost of revenue and revenue is growing faster than cost of revenue. We know OpenAI is forecasting $25-30B revenue for 2026. They will be very close to breaking even at those number. Given Anthropic has forecast more revenue than OpenAI and we know has spent less on R&D (cite their desperate scramble for compute capacity!) the rumours of them being profitable this year seem very credible.
Sales and marketing have to be added to the COR, which makes COR slightly > Revenue.
Re: Leaked OpenAI financials show $38.5B loss and compute burn
#10> OpenAI's spending mix shows why. The reported 2025 figures include $7.5 billion in cost of revenue, $19.18 billion in research and development, $5.73 billion in sales and marketing, and $1.57 billion in general and administrative expense How the hell did they spend 5.7 billion in "sales and marketing"?
they're spending like 9 figures on a single marketing agency - this doesn't surprise me whatsoever