{"rewrite":{"id":"r_4536f080fde82846175ad3fb","clusterId":"c_37510efba2f7901a8d2ee407","slug":"openai-losses-hit-38-5-billion-in-2025-as-ipo-draft-filed","model":"deepseek-v4-flash","headline":"OpenAI Losses Hit $38.5 Billion in 2025 as IPO Draft Filed","summary":"Leaked audited financial documents obtained by independent journalist Ed Zitron show OpenAI's net loss attributable to the company reached $38.5 billion in 2025, up from $5.09 billion in 2024. Revenue grew from $3.7 billion to $13.07 billion over the same period, but operating expenses including $19.18 billion in R\u0026D drove total spending to $41.55 billion. A one-time accounting charge of roughly $30 billion related to a for-profit transition accounts for most of the 2025 loss; excluding it, the net loss would be about $8 billion. OpenAI submitted a draft IPO registration statement to the SEC in June 2026.","whyItMatters":"The leaked documents reveal the scale of OpenAI's spending as it pursues an IPO, with losses ballooning even as revenue triples, and a single $30 billion accounting charge tied to its for-profit restructuring dominating the 2025 bottom line.","webCardHtml":"\u003cp\u003eOpenAI\u0026#39;s financial losses deepened sharply in 2025 even as revenue more than tripled, according to audited financial statements obtained by independent journalist Ed Zitron and reviewed by the Financial Times. The documents show a net loss attributable to the company of $38.5 billion, up from $5.09 billion in 2024. Revenue rose from $3.7 billion to $13.07 billion, but operating expenses-led by $19.18 billion in research and development-totaled $41.55 billion. The Financial Times, citing a person familiar with the matter, reported that roughly $30 billion of the 2025 loss is a one-time accounting charge tied to changes in investor valuations as OpenAI announced plans to transition to a for-profit structure. Excluding that charge, the net loss would be about $8 billion, roughly 1.5 times the 2024 figure. OpenAI submitted a draft registration statement for an initial public offering to the SEC in June 2026. The company does not expect to become cash flow positive until 2029, when projected revenue exceeds $125 billion.\u003c/p\u003e","blueskyPost":"Leaked audited financials show OpenAI's net loss hit $38.5B in 2025, up from $5.09B in 2024. Revenue tripled to $13.07B but R\u0026D spending alone was $19.18B. A $30B accounting charge tied to for-profit restructuring accounts for most of the loss. IPO draft filed with SEC.","twitterPost":"Leaked audited financials: OpenAI net loss $38.5B in 2025 (up from $5.09B in 2024). Revenue tripled to $13.07B but R\u0026D alone was $19.18B. ~$30B of loss is a one-time accounting charge from for-profit restructuring. IPO draft filed with SEC.","threadsPost":null,"newsletterBlurb":"Leaked audited financial documents reveal OpenAI's net loss attributable to the company hit $38.5 billion in 2025, up from $5.09 billion in 2024, even as revenue tripled to $13.07 billion. A roughly $30 billion one-time accounting charge tied to the company's for-profit restructuring accounts for most of the loss; excluding it, the net loss would be about $8 billion. OpenAI submitted a draft IPO registration statement to the SEC in June 2026.","attributionJson":"[{\"source\":\"GIGAZINE\",\"url\":\"https://gigazine.net/news/20260618-openai-financial-docs/\",\"title\":\"Leaked Financial Documents Reveal OpenAI Is Losing Trillions of Yen Annually\"}]","lintFlagsJson":null,"lintHits":0,"costUsd":0,"inputTokens":4249,"outputTokens":823,"status":"published","repairAttempts":0,"nextRepairAt":null,"factsAttemptedAt":1781765881,"createdAt":"2026-06-18T06:46:55.000Z","publishedAt":"2026-06-18T06:49:57.000Z","updatedAt":"2026-06-18T06:49:57.000Z"},"cluster":{"id":"c_37510efba2f7901a8d2ee407","canonicalTitle":"OpenAIは年間数兆円規模の損失を出していることが流出した財務文書で明らかに","representativeArticleId":"a_b5a2a54f45207fa31802422d","sourceCount":1,"writtenSourceCount":1,"writeAttempts":0,"isSolo":true,"entitiesJson":"{\"anime_titles\":[],\"manga_titles\":[],\"work_titles\":[],\"studios\":[],\"people\":[],\"type\":\"news\",\"domain\":\"other\",\"is_roundup\":false}","contentType":"news","status":"published","firstSeenAt":"2026-06-18T06:00:00.000Z","lastSeenAt":"2026-06-18T06:00:00.000Z","updatedAt":"2026-06-18T06:49:57.000Z"},"attribution":[{"source":"GIGAZINE","url":"https://gigazine.net/news/20260618-openai-financial-docs/","title":"OpenAIは年間数兆円規模の損失を出していることが流出した財務文書で明らかに"}],"entities":{"anime_titles":[],"manga_titles":[],"work_titles":[],"studios":[],"people":[],"type":"news","domain":"other","is_roundup":false},"keyFacts":["OpenAI's net loss attributable to the company reached $38.5 billion in 2025, up from $5.09 billion in 2024.","Revenue grew from $3.7 billion to $13.07 billion in 2025, but operating expenses totaled $41.55 billion, including $19.18 billion in R\u0026D.","A one-time accounting charge of roughly $30 billion related to a for-profit transition accounts for most of the 2025 loss; excluding it, the net loss would be about $8 billion.","OpenAI submitted a draft IPO registration statement to the SEC in June 2026.","The company does not expect to become cash flow positive until 2029, when projected revenue exceeds $125 billion."]}