OpenAI has zero debt and just $46mn of quarterly capex. Ahead of its IPO, that suspiciously clean balance sheet is becoming the question, not the pitch.

OpenAI has zero debt and just $46mn of quarterly capex. Ahead of its IPO, that suspiciously clean balance sheet is becoming the question, not the pitch.

Few companies have gone public with books as unusual as OpenAI’s. At first glance, the company portrayed by the AI startup’s financial statements, reviewed by The Information,…