Leaked financial docs show OpenAI is losing billions of dollars a year
TLDR
OpenAI's leaked financial documents reveal the company generated $13.07 billion in revenue during 2025 but faced even larger expenses, with R&D costs alone reaching $19.18 billion. The company posted an operating loss of $20.92 billion in 2025, more than three times its total revenues. Despite growing revenues, OpenAI remains deeply unprofitable and faces significant pressure to reach profitability by 2030 as it prepares for a potential IPO.
Why it matters
Audited financial statements show OpenAI's revenue grew from $3.7 billion in 2024 to $13.07 billion in 2025, but expenses grew from $7.81 billion to $19.18 billion, reflecting the high costs of training new models.
