OpenAI spent about $34 billion last year on research, sales, and marketing as it tries to lead the AI race ahead of its expected stock market debut, according to a report first reported by the Financial Times. This spending, which covers 2025 and is based on audited figures shared with investors, shows how quickly the company is burning through cash to stay ahead of its competitors in advanced AI.
Most of the money is said to have gone towards research and development, including training models, data centers, and specialist processors. According to reports, OpenAI spent almost $19 billion just on R&D as it built successive generations of its generative AI systems. The rest went largely to sales, marketing, and other operating costs associated with growing its client base and cloud usage.
This heavy outlay supported the rapid rollout of new tools and upgrades to ChatGPT and related products for businesses. It also funded hiring across engineering and safety teams as OpenAI tried to improve reliability and scale. Overall, the numbers underline that building cutting‑edge AI remains extremely expensive, even for a market leader.
Big Losses Ahead of a Planned IPO
The study states that the company nonetheless operated at a huge deficit despite strong revenue increases during the year. It poured money into future products and infrastructure, with costs considerably outstripping income. The corporation appears willing to take significant short-term losses to lock in a better position in the long run.
Meanwhile, OpenAI is preparing for a public offering, with several outlets earlier claiming that it had confidentially registered for an IPO. If market circumstances hold, a listing may come as soon as late this year. OpenAI’s leadership has framed an IPO as a means to raise additional funds for the long-term development and deployment of AI.
This level of spending signals how fierce the AI race has become among major labs and tech giants. It also suggests that access to capital and chips may decide who leads the next wave of AI development. Investors, regulators, and rivals will likely watch OpenAI’s financials closely as its IPO plans move forward.
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