Perplexity AI Leaks Suggest OpenAI Running at a Massive Loss Due to Microsoft GPUs
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Nov 18, 2025 Leaked documents reveal OpenAI’s financial struggles tied to significant payments to Microsoft, highlighting the deep dependency on their GPUs. Experts discuss how this reliance contributes to ongoing losses. Projections show a drastic increase in Microsoft’s revenue share from 2024 to 2025, raising eyebrows about cash flow and cost reporting. The conversation also covers Sam Altman’s ambitious revenue targets amid rising compute expenses, igniting discussions about the potential AI bubble and overall industry valuations.
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Huge Revenue Share Payments To Microsoft
- Leaked documents show OpenAI paid Microsoft nearly $494M in 2024 and $865.8M in the first three quarters this year.
- That pace implies OpenAI could pay over $1B to Microsoft this year under a reported 20% revenue-share deal.
Complex Revenue Sharing Between The Two Firms
- OpenAI reportedly agreed to give Microsoft 20% of its revenue as part of large investments.
- Microsoft also reportedly gives OpenAI about 20% back from Bing and Azure OpenAI revenues, creating complex cross-flows.
Revenue Estimates Place OpenAI In Billions
- Leaked figures let analysts estimate OpenAI's revenue: roughly $2.5B in 2024 and $4.33B in the first three quarters of this year.
- Other reports vary (e.g., $4B in 2024), but all place OpenAI in the multi-billion-dollar revenue range.