OpenAI projects a cumulative negative free cash flow of $278 billion for the period 2026–2030, according to figures presented to investors and reported by Reuters. The numbers illustrate how expensive it has become to develop and operate the most advanced artificial intelligence models.
Revenue outlook
The presentation shows OpenAI generated approximately $36 billion in revenue in 2024. The company expects that figure to grow to $350 billion by 2030, representing nearly a tenfold increase. For the entire period, OpenAI forecasts cumulative revenues of $840 billion.
Spending and infrastructure
Projected spending is even larger on the cost side: OpenAI may spend roughly $856 billion on compute capacity and infrastructure through the end of 2030. These forecasts underscore the substantial investments required for data centers, chips and other compute resources before revenues fully catch up with expenses.
Financing and valuation
In March, the company raised $122 billion in a funding round that valued OpenAI at $852 billion. The Financial Times reported that, based on current plans, that capital could be depleted by 2028. The scale of the projected deficits helps explain OpenAI’s ongoing need for fresh capital: Reuters has previously reported that the ChatGPT developer has been in talks about another funding round that some reports suggest could value the company at about $1.2 trillion ahead of any potential initial public offering.
Public listing prospects
OpenAI confidentially filed required documents in June, but Chief Executive Officer Sam Altman said in September that the company will definitely not go public in 2026.
Why it matters
These figures show that cutting-edge AI development is highly capital-intensive, and firms may accept extended periods of losses to scale the technology. Such large-scale investment plans can influence market dynamics, investor strategies and the pace of AI development globally.
