Acquired AI Leaks Reveal OpenAI Is Losing Money Paying Microsoft
Nov 18, 2025
Leaked documents reveal OpenAI is grappling with skyrocketing costs linked to its partnership with Microsoft. Payments to Microsoft are projected to nearly double within a year, raising concerns about sustainability. The financial strain from inference costs, which have surged from $3.8B to $8.65B, complicates OpenAI’s revenue landscape. Analysts speculate that these figures could impact the entire AI investment market, signaling potential challenges for other companies too. The discussion highlights the intricate balance between revenue sharing and operational costs.
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Revealed Scale Of Microsoft Revenue Share
- Leaked documents show OpenAI paid Microsoft ~$494M in 2024 and ~$866M in the first three quarters of 2025.
- That implies OpenAI's revenue was at least $2.5B in 2024 and likely over $1B paid to Microsoft this year.
20% Revenue Share Shapes The Partnership
- OpenAI reportedly agreed to give Microsoft a 20% revenue share tied to their major investment.
- Microsoft also gives ~20% back from Bing and Azure OpenAI service, creating circular revenue flows.
Inference Costs Are Astronomical
- Leaks estimate OpenAI spent $3.8B on inference in 2024 and $8.65B in the first nine months of this year.
- Inference costs are mostly cash and drive the company's heavy compute bill to Microsoft.