Leaked financials show OpenAI’s annual net loss tripled revenue despite $20B in R&D spending and major tech backing.
OpenAI reported $13.1 billion in net revenue for 2024 but recorded a net loss of $38.5 billion, according to verified financial documents. The company’s operating loss reached $20.1 billion, driven by $20 billion in research and development and $5.7 billion in sales and marketing expenses.
The losses surpass those of Meta’s Reality Labs, which posted a $17.7 billion loss in 2024 and over $70 billion cumulatively since 2020. OpenAI’s shift from a non-profit to a for-profit entity last year contributed to the financial strain, though specifics on the transition’s impact remain unclear.
Major backers, including SoftBank and Microsoft, injected $867 million and $303 million respectively, covering roughly 9% of OpenAI’s revenue. The scale of losses raises questions about long-term sustainability without further capital infusions or government intervention.