OpenAI reportedly burned through $3.7 billion in cash in the first quarter of 2026, equal to about 65% of its $5.7 billion revenue for the period.
The figures came from documents shared with shareholders, according to The Information. Recent data show that OpenAI is generating more revenue from its artificial intelligence products. At the same time, the company is spending heavily on research, computing systems, staff and business growth.
OpenAI reportedly posted an operating loss of $9.3 billion in the first three months of 2026. Its net loss reached $21.3 billion, although a large accounting charge affected that figure.
The quarter included a $12.4 billion charge that did not reflect a direct cash payment. Even after accounting for that item, the results showed a wide gap between OpenAI’s income and its total operating costs.
Revenue and cash burn both tripled from the same period in 2025, according to the report. This means the company expanded sales quickly but also increased the amount of money required to operate its services.
OpenAI ended March with more than $73 billion in cash and marketable securities. That total increased from about $40 billion at the end of December. A major funding round announced in late March supported the rise.
At the first-quarter burn rate, the cash balance could cover the company’s near-term funding needs. Nevertheless, future spending may change as OpenAI expands its computing capacity and develops new AI models.
OpenAI spent about $34 billion in 2025, according to separate reports based on audited financial statements. Research and development accounted for around $19 billion of the total.
The company also spent nearly $6 billion on sales, marketing and related business costs. These expenses supported product development, customer growth and competition across consumer and enterprise AI markets.
OpenAI recorded a net loss of about $39 billion in 2025. A restructuring charge and other non-cash costs made up a large part of that amount. Excluding those entries, its loss stood at about $8 billion.
Meanwhile, the company said in March that it was generating roughly $2 billion in monthly revenue. This growth has come from paid ChatGPT plans, business subscriptions and access to its AI models through application programming services.
Reports have also said OpenAI is considering lower prices as it competes with Anthropic. Any price reduction could increase usage, although it may also lower the revenue earned from each customer.
OpenAI said earlier in June that it had confidentially filed for a United States initial public offering. A confidential filing allows regulators to review financial documents before the company publishes them for investors.
A source said the listing “could come as early as September” and value OpenAI at “up to $1 trillion.” Those estimates are not final, and OpenAI has not announced the number of shares, an offer price or a confirmed listing date.
Chief Executive Sam Altman also reportedly told employees that he expected OpenAI to go public “within the next year.” However, market conditions and the regulatory review could affect the schedule.
The IPO process may provide more details about OpenAI’s revenue, spending and financial risks. Until those documents become public, the latest loss and cash-burn figures remain based on reports citing privately shared records.
Also Read: OpenAI Files Confidential IPO Hours After Apple’s AI Push at WWDC 2026