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MiniMax reported a 283% revenue increase to $116.6M in the first half, with gross margin improving to 17.9%, but net loss doubled. It compares unfavorably to competitors like OpenAI, DeepSeek, and Anthropic in terms of gross margin.
Microsoft disclosed for the first time that it recorded $24.1 billion in revenue from OpenAI-related business in fiscal 2026, accounting for about 70% of its total AI revenue, and also disclosed accounts receivable and cumulative investments.
Leaked financial documents reveal OpenAI incurred a $38.5 billion loss, highlighting massive compute expenditure.
Exclusive report reveals OpenAI's audited financials for 2024 and 2025, showing losses surged to $38.5 billion in 2025 as spending hit $34 billion, driven by massive R&D and conversion to for-profit entity.
Ed Zitron posts statistics on X about OpenAI's significant financial losses, questioning the company's ability to generate sufficient revenue.
xAI lost $6.4 billion in 2025 on $3.2 billion in revenue, and SpaceX's IPO filing reveals plans to scale Grok to trillions of parameters, requiring substantial additional compute spending.