The FT reports OpenAI spent $34bn in 2025 against $13bn revenue, as it readies a confidential IPO targeting a $1tn valuation.

Audited financial figures show the ChatGPT maker spent about $19 billion on research and development in 2025 and nearly $6 billion on sales and marketing, as well as…

OpenAI projected $34 billion in spending on R&D, sales, and marketing in 2025 as it prepares for a potential $1 trillion IPO filing with the SEC.

OpenAI spent $34 billion in the past year, far more than the year before.