OpenAI spent $34bn on AI last year, says Financial Times
OpenAI’s spending reached $34 billion (€29 billion) last year. This massive investment reflects the company’s strategy to secure a leading position in the rapidly growing AI sector. Verified financial data reviewed by the Financial Times showed that the organisation spent around $19 billion (€16 billion) on research and development, while sales, marketing and general operating expenses totalled nearly $6 billion (€5.1 billion).
The figures illustrate the substantial financial effort required to support AI growth, particularly in terms of building data centres, developing advanced models and attracting top scientists.
Nonetheless, the company’s growth is unprecedented; monthly revenue rose to $2 billion (€1.7 billion) by the end of 2025, up from just $1 billion dollars (€860 million) per quarter at the end of 2024. Total annual revenue amounted to roughly $13 billion (€11.2 billion).
Dramatic increase in losses
However, this rapid growth was accompanied by a dramatic increase in net losses, which jumped from $5 billion (€4.3 billion) in 2024 to around $39 billion (€33.5 billion) in 2025. Experts suggest that this spike was largely caused by a one-off, non-cash accounting adjustment related to the company’s former corporate structure.
Because earlier investor rights were classified as liabilities under US law, the company’s rising valuation led to a $30 billion charge. When these technical accounting shifts and share-based compensation are excluded, the actual operating loss was $8 billion.
To keep those costs under control, CEO Sam Altman urged staff to prioritise the consumer chatbot and business tools, prompting the company to put expensive secondary projects such as the Sora video generator on hold.
That financial leeway has been maintained thanks to enormous investor interest; the company recently secured $122 billion (€105 billion) in funding at a valuation of $730 billion (€630 billion).
OpenAI has now filed IPO documentation with the SEC. Although Altman suggests that remaining private is still a viable option, other executives and stakeholders are already expecting a stock market debut this autumn. That move puts OpenAI in direct competition with Anthropic, which has also filed for an IPO after reaching a valuation of $900 billion (€775 billion).
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