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Leaked documents shed light into how much OpenAI pays Microsoft
Leaked documents reveal that OpenAI paid Microsoft nearly $494 million in 2024, which surged to about $866 million in the first three quarters of 2025. OpenAI shares 20% of its revenues with Microsoft due to a significant investment, despite both companies not publicly confirming their revenue-sharing arrangements. The disclosures raise concerns about OpenAI's financial health as its costs may exceed revenues.
Key points
- OpenAI's revenue-share payments to Microsoft were $493.8 million in 2024, increasing to $865.8 million in early 2025.
- OpenAI reportedly shares 20% of its total revenue with Microsoft as part of a deal with over $13 billion in investments.
- Microsoft also shares 20% of revenues from Bing and Azure OpenAI with OpenAI, complicating revenue estimation.
- The leaked documents suggest OpenAI may have spent $3.8 billion in inference costs in 2024, rising to $8.65 billion in 2025.
- Concerns are emerging about OpenAI potentially spending more on inference than it earns from revenue.
Why it matters
- The revelations connect to ongoing discussions about the sustainability of AI valuations and business models as investment pours into AI technologies.
- Previous financial reports suggested OpenAI might earn $4 billion in 2024 and could reach an annualized run rate above $20 billion by the end of 2025 or even aim for $100 billion by 2027.
- These events play into the broader conversation about the financial viability of AI players in the industry and the concept of an 'AI bubble'.
The leaked financial documents expose critical insights into OpenAI's revenue-sharing with Microsoft and its operational costs, raising significant questions about the long-term profitability and sustainability of AI companies amid scrutiny in the tech market.