Leaked financials show OpenAI’s operating loss widened to $8.78 billion as costs surged ahead of a planned IPO.
OpenAI reported a $5.09 billion net loss in 2024 on $3.7 billion revenue, according to audited financial documents reviewed by media. The company’s total costs and expenses reached $12.48 billion, driven by $7.81 billion in R&D and $1.11 billion in sales and marketing spending.
The $8.78 billion operating loss marks a sharp deterioration from prior periods, with gross margins at 28.4%. OpenAI also adjusted its net loss by $3.74 billion for noncontrolling interests. The company has $600 billion in data center commitments through 2030 but is not expected to turn profitable before then.
The financials were disclosed as OpenAI confidentially filed for an initial public offering, signaling potential investor scrutiny over its spending and growth trajectory.