OpenAI burned through $3.7B in a single quarter, and it's not even sweating

OpenAI burned through $3.7B in a single quarter, and it's not even sweating

OpenAI burned $3.7B in Q1 2026 (65% burn rate), tripling costs year-over-year on GPU compute for training and inference. The signal: explosive AI demand but delayed profitability; with $73B cash and likely IPO ahead, burn rate becomes the market's critical valuation lever.