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Editorial polish — OpenAI financials pick

Editorial polish — OpenAI financials pick

{"title": "OpenAI posted a $38.5B net loss in 2025 — paying Microsoft $17.2B, more than its entire revenue", "summary": "Audited financials, independently verified by the Financial Times, show OpenAI's 2025 revenue at $13.07B against $34B in costs and a $20.92B operating loss, with $17.2B of that flowing to Microsoft alone for compute and model training. A single vendor absorbing more than a company's full-year revenue is the structural fact that reshapes the stability calculus for any enterprise or product ecosystem built on OpenAI's API."}

Source: wheresyoured.at ↗

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In total, OpenAI's expenses to Microsoft amounted to $17.2 billion.

Article body (audited financials)

Why this matters

  • → Microsoft payments ($17.2B) exceed OpenAI's total annual revenue, creating dependency risk.
  • → Losses accelerated 7.5x year-over-year; path to profitability remains unclear.
  • → Single vendor concentration threatens ecosystem viability for API-dependent products.
Vendor lock-in crisis