This is the least of OpenAI's worries. They have a sociopathic con man leading the team, ChatGPT encourages people to kill themselves, the cascade of lawsuits and an internal coup bubbling up. Losing money is part of the AI startup process, they either make the turn to landing and fulfilling lucrative contracts and turn the corner or they wither and die.
OpenAI generated $13.07 billion in revenue in 2025 but recorded operating losses of nearly $21 billion, according to leaked audited financial documents obtained by Ed Zitron.
The documents show OpenAI spent around $34 billion that year, including $19.18 billion on research and development and $5.73 billion on sales and marketing. Cost of revenue reached $7.5 billion.
“OpenAI’s financial statements tell the story of a company with incredible losses,” Zitron wrote.
Despite the massive spending, revenue rose from $3.7 billion in 2024 to more than $13 billion in 2025. OpenAI ended the year with over $50 billion in assets, nearly half in cash.