OpenAI Posts $13.07 Billion Revenue, $38.53 Billion Net Loss for 2025

According to audited financial documents disclosed by technology critic Ed Zitron and verified by the Financial Times, OpenAI posted $13.07 billion in revenue for 2025 but recorded a net loss of $38.53 billion, with operating costs reaching $34 billion. R&D spending surged to $19.18 billion.

OpenAI's losses more than tripled compared to 2024, when it reported $3.7 billion in revenue and a $5.09 billion net loss. In 2025, OpenAI paid Microsoft $17.2 billion in service fees, including $10.59 billion for R&D and $6.047 billion for cost of revenue. As of end-2025, OpenAI held over $50 billion in assets, nearly half in cash reserves.