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Leaked financial documents reveal OpenAI's revenue grew to $13.07B in 2025 but operating losses increased to $20.92B, as expenses outpace income ahead of a potential IPO.
A Twitter thread forecasts that Google will dominate AI on phones, Anthropic will be acquired by Amazon, and OpenAI will go bankrupt, citing OpenAI's $38.53 billion losses.
OpenAI reported a Q1 2026 operating margin of -122%, losing $1.22 for every dollar earned, with a $6.95 billion adjusted quarterly loss despite $5.7 billion revenue. The losses raise questions about AI industry commercial viability.