Leak: OpenAI $38.5 Billion Net Loss [???]
June 16th, 2026Via: Runtime Wire:
Sam Altman (@sama)’s OpenAI lost $38.53 billion attributable to the company in 2025, according to audited financial documents viewed by Ed Zitron and independently verified by the Financial Times, a set of figures that an Ars Technica story pushed into broader circulation Tuesday.
The documents themselves are not public. But the reported figures are specific enough to cut through the abstraction that has defined the AI financing cycle: OpenAI generated $13.07 billion in revenue in 2025, incurred $34 billion in total costs and expenses, and posted a $20.92 billion loss from operations, according to Zitron’s account of the statements. The same documents put the net loss attributable to OpenAI at $38.53 billion after a larger $60.35 billion net loss was reduced by losses attributed to noncontrolling interests.
For Altman, the former Y Combinator president who became OpenAI’s CEO in 2019, the leak lands at the precise moment his company is trying to convert the largest private AI funding story into a public-markets story. OpenAI said on June 8 that it had confidentially submitted a draft S-1 to the SEC, adding that it expected the filing to leak and had not decided when to go public.
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