AI BriefingOpenAI's 2025 loss nearly 8x higher, spending $34 billion
Key point
OpenAI's 2025 net loss surged 8x year-over-year, revealing the massive burden of R&D and infrastructure costs.
Details
According to OpenAI's audited 2025 financial documents, net loss attributable to the company reached $38.53 billion, up roughly 8x from 2024 ($5.09 billion).
Key financial metrics are as follows:
- Revenue: $13.07 billion
- Total costs and expenses: $34 billion
- Operating loss: $20.92 billion
- Research and development (R&D) expenses: $19.18 billion
In particular, during the process of converting from a nonprofit to a for-profit entity, OpenAI recorded a $41.55 billion loss due to changes in the fair value of convertible interests and warrant liabilities. Additionally, payments to Microsoft reached $17.2 billion, showing that the company is carrying an infrastructure and R&D burden far larger than the investments received from SoftBank and Microsoft.
As of the end of 2025, OpenAI holds more than $50 billion in assets, with half of that in cash, but the sharp increase in losses is putting growing pressure on the company to secure profitability and sustainability.
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