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OpenAI's $38.5B Loss: AI Giant's Path to IPO
16 Jun
Summary
- OpenAI reported a $38.5 billion loss for 2025.
- Revenue tripled to $13.07 billion, with R&D costs high.
- The company is preparing for a potential public listing.

In 2025, OpenAI experienced a net loss of $38.5 billion, according to audited financial documents. This figure contrasts with a $5.09 billion net loss reported for 2024. The company's revenue for 2025 reached $13.07 billion, more than tripling from the previous year's $3.7 billion.
Total costs and expenses for 2025 amounted to $34 billion, with research and development spending accounting for $19.18 billion. The company also incurred $5.73 billion in sales and marketing costs. OpenAI's financial relationship with Microsoft was significant, with OpenAI paying Microsoft $17.2 billion for various services.
As OpenAI prepares for a potential public listing, with Goldman Sachs and Morgan Stanley leading the process, these financials provide unprecedented insight for investors. The company, currently valued at $852 billion, supports over 900 million weekly active users through ChatGPT. Future investor communications indicate a pledge of approximately $600 billion toward AI infrastructure spending by 2030.