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ArsTechnica has a nice graph showing it https://arstechnica.com/ai/2026/06/leaked-financial-docs-show-openai-is-losing-billions-of-dollars-a-year/ https://arst

ArsTechnica has a nice graph showing it https://arstechnica.com/ai/2026/06/leaked-financial-docs-show-openai-is-losing-billions-of-dollars-a-year/ https://arstechnica.com/ai/2026/06/leaked-financial-docs-sho... And I believe this is the actual source https://www.wheresyoured.at/exclusive-openai-financials/ https://www.wheresyoured.at/exclusive-openai-financials/

jofzar 4mo ago
One of these two should be the main link tbh
- watwut 4mo ago
  The Zitrons was main link yeasterday. Most claimed it is nothing burger and Zitron bullshits, has nothing there and is annoying. Shrug.
_spduchamp 4mo ago
From the Ars Technica article... OpenAI’s headline “net loss” number of just over $5 billion in 2024 ballooned to nearly $39 billion in 2025. But the 2025 number includes a significant accounting charge related to investor valuations that shifted amid the company’s 2025 conversion to a for-profit structure. The Financial Times cites “a person familiar with the matter” in reporting that this non-recurring charge was approximately $30 billion and that OpenAI’s 2025 net loss amounted to a more reasonable-looking $8 billion without it. Huh? Where did $30 billion go?
- grebc 4mo ago
  Written off. They might not have spent $30b but they likely valued their asset base at >>> $30b+ and had to adjust that at the time of converting to for profit, is how I read it. “One time non-recurring” is also just accounting double speak that lets executives cover up dumb stuff while sounding plausibly OK.
- ThrustVectoring 4mo ago
  Profit and loss tracks changes to the fair price of purchasing the business, not operational cash flow. The $30b didn't go anywhere since it's not cash flow, it's acknowledging that someone who purchases OpenAI today would be on the hook for $30b more of future ownership dilution than before 2025.
- datadrivenangel 4mo ago
  They promised the former investors $30b in equity, which is like taking a loan accounting wise.
Garlef 4mo ago
This also shows that 2025 paid for 2024. Unless they increased their spending even more, "all they have to do" is cover 2025 with the 2026 revenue?
- chillfox 4mo ago
  Do you think they can cover 2026 with 2027 without raising more money? Or is this more like a bonfire that requires more fuel to keep burning?
kfarr 4mo ago
Just let go of the entire R&D team and then you have a 50% margin business. UPDATE: Also bad news, you need to let go of all of sales and marketing and G&A. And THEN it's a 50% margin business.
- chillfox 4mo ago
  Can't do that. If they get rid of R&D, then someone else will make a better model and we will all switch to using that model. If sales & marketing covers subsidies and bribes then they cant get rid of that either. Get rid of the bribes and they will be shut down. Get rid of the subsidies and we will all switch to someone cheaper.
nicce 4mo ago
6 billion to sales and marketing…?

jofzar 4mo ago

One of these two should be the main link tbh

watwut 4mo ago
The Zitrons was main link yeasterday. Most claimed it is nothing burger and Zitron bullshits, has nothing there and is annoying. Shrug.

_spduchamp 4mo ago

From the Ars Technica article... OpenAI’s headline “net loss” number of just over $5 billion in 2024 ballooned to nearly $39 billion in 2025. But the 2025 number includes a significant accounting charge related to investor valuations that shifted amid the company’s 2025 conversion to a for-profit structure. The Financial Times cites “a person familiar with the matter” in reporting that this non-recurring charge was approximately $30 billion and that OpenAI’s 2025 net loss amounted to a more reasonable-looking $8 billion without it. Huh? Where did $30 billion go?

grebc 4mo ago
Written off. They might not have spent $30b but they likely valued their asset base at >>> $30b+ and had to adjust that at the time of converting to for profit, is how I read it. “One time non-recurring” is also just accounting double speak that lets executives cover up dumb stuff while sounding plausibly OK.
ThrustVectoring 4mo ago
Profit and loss tracks changes to the fair price of purchasing the business, not operational cash flow. The $30b didn't go anywhere since it's not cash flow, it's acknowledging that someone who purchases OpenAI today would be on the hook for $30b more of future ownership dilution than before 2025.
datadrivenangel 4mo ago
They promised the former investors $30b in equity, which is like taking a loan accounting wise.

Garlef 4mo ago

This also shows that 2025 paid for 2024. Unless they increased their spending even more, "all they have to do" is cover 2025 with the 2026 revenue?

chillfox 4mo ago
Do you think they can cover 2026 with 2027 without raising more money? Or is this more like a bonfire that requires more fuel to keep burning?

kfarr 4mo ago

Just let go of the entire R&D team and then you have a 50% margin business. UPDATE: Also bad news, you need to let go of all of sales and marketing and G&A. And THEN it's a 50% margin business.

chillfox 4mo ago
Can't do that. If they get rid of R&D, then someone else will make a better model and we will all switch to using that model. If sales & marketing covers subsidies and bribes then they cant get rid of that either. Get rid of the bribes and they will be shut down. Get rid of the subsidies and we will all switch to someone cheaper.

nicce 4mo ago

6 billion to sales and marketing…?