OpenAI reported explosive revenue growth in 2025, according to newly leaked financial statements, but the artificial intelligence company continues to face substantial losses as spending on research, computing infrastructure and expansion outpaces its rapidly growing sales.
The audited documents reveal that OpenAI's revenue jumped to $13.07 billion in 2025, up from $3.7 billion in 2024. The growth accelerated throughout the year, with monthly revenues reportedly reaching nearly $2 billion by the year's end. These figures come as OpenAI gears up for regulatory filings ahead of an expected IPO.
However, despite that impressive revenue increase, OpenAI's expenses shot up even more. Research and development costs skyrocketed to $19.18 billion in 2025 from $7.81 billion the previous year, driven by the hefty investments needed for developing more advanced AI models. Over $10 billion of those costs were linked to services from Microsoft, a major partner and investor.
The cost of revenue also rose significantly, climbing to $7.5 billion from $2.65 billion, while sales and marketing expenses went up to $5.73 billion from $1.11 billion. This left OpenAI with a widening operating loss of $20.92 billion in 2025, compared to $8.78 billion in 2024.
OpenAI reported a net loss of nearly $39 billion for the year, though this figure included a one-time accounting charge related to its shift to a for-profit model. If we set that aside, the estimated net loss was around $8 billion.
The company is aiming for profitability by 2030 and is putting more focus on its core business and coding products. Earlier this year, OpenAI raised $122 billion in funding at a valuation of $852 billion.
They also noted that they have over 900 million weekly active ChatGPT users, including about 50 million paying subscribers, highlighting the strong demand for their AI services, even amid the tough task of turning that growth into actual profits.
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