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.

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

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

Everything you need to know before you reach the office this morning.

OpenAI's 2025 financials leak shows a $38.5 billion loss, lowering IPO odds; IPO by December 31, 2026 at 45.5% YES.

OpenAI's audited 2025 financials show $13.07B revenue and $34B in costs, with a $20.92B operating loss as the company prepares for its planned 2026 IPO.

OpenAI reportedly spent $3.7 billion in Q1 2026 despite generating $5.7 billion in revenue as it ramped up AI investments ahead of IPO.

Earlier this month, OpenAI said it had confidentially filed for a U.S. IPO

OpenAI spent $3.7bn in Q1 2026, more than half its $5.7bn revenue, as both figures tripled year on year, per The Information. It holds $73bn in cash.

Revenue growth has been dramatic. OpenAI generated $3.7 billion in revenue in 2024 before jumping to $13.07 billion in 2025. By the end of that year, monthly...