OpenAI Losses Reach $38.5 Billion in 2025 as Spending Surges to $34 Billion
By
Ed Zitron
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· 3 sourcesOpenAI’s audited financial losses surged to approximately $38.5 billion in 2025, according to documents obtained by journalist Ed Zitron and verified by the Financial Times. The Financial Times reported that the company generated $13.07 billion in revenue but spent $34 billion, including $17 billion paid to Microsoft for cloud computing. Hacker News noted that the figures underscore the enormous capital burn required to sustain leading AI model development.
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Summary
OpenAI's financial losses surged nearly 8x in 2025, reaching approximately $38.5 billion, according to audited financial documents verified by the Financial Times. The company had $3.7 billion in revenue against $12.4 billion in costs in 2024, with losses accelerating dramatically in 2025 as spending hit $34 billion. The report is presented as an exclusive, fact-based financial disclosure with minimal editorializing.
Key quotes
· 3 pulledToday, I can exclusively report, based on audited financial documents viewed by this publication that have been independently verified by the Financial Times, that OpenAI lost around $38.5 billion in 2025
Due to the seriousness of this story, I am not going to do very much editorializing, as the numbers speak for themselves.
2024 — OpenAI Had $3.7 Billion In Revenue, $12.4 Billion In Costs and Expenses
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