OpenAI’s revenue hits an unprecedented $20 billion

OpenAI’s annualized revenue run rate has reached $20 billion in 2025, an increase of 233.3% compared to 2024. According to CFO Sarah Friar, this growth on such a scale was never seen before. The 2025 figure represents an acceleration relative to 2024, when revenue rose by 200%, from $2 billion in 2023 to $6 billion. While OpenAI has not disclosed detailed figures on costs or profitability, the scale of its spending can be inferred from data on its computing infrastructure.

The impressive growth, however, comes with a significant asterisk: revenue expansion appears to be closely tied to a parallel surge in expenses. While OpenAI has not disclosed detailed figures on costs or profitability, the scale of its spending can be inferred from data on its computing infrastructure.

According to the company, OpenAI operated 1.9 gigawatts of computing power in 2025, equivalent to the electricity consumption of roughly two million households, or about 12% of Israel’s peak electricity output, an increase of 216.7% compared with 2024.

This dramatic expansion in computing capacity implies expenses running into the tens of billions of dollars annually, suggesting that even $20 billion in annual revenue may be insufficient to support the company’s current trajectory.

The Wall Street Journal in December reported that OpenAI was seeking to raise $100 billion at a valuation of $830 billion, primarily to finance further expansion of its computing infrastructure. Around the same time, it was reported that SoftBank had completed a $40 billion investment in the company.