OpenAI financial analysis
English overview · Japanese analysis and additional diagrams
Sources last reviewed:
Analysis updated:
Revenue growth is evident. Profitability and cash headroom remain unverified.
THE SIGNAL's editorial assessment focuses on how much revenue remains as profit and when computing commitments must be paid. Funding promises, actual payments and current cash are tracked separately.
Reported annualized revenue is not actual full-year revenue. It does not establish profitability or cash runway.
Sources differ in definitions, periods and scope. Current cash, actual gross margin and cash runway remain unverified.
OPENAI / DEVELOPMENTS
What changed. What comes next.
Sources reviewed
Source-linked updates on products, research and corporate developments. Editorial implications are separated from company announcements.
5 updates
Images 2.6 released
Image generation and editing expanded across ChatGPT, Codex and the API.
- Editorial reading
- Watch adoption in creative workflows; revenue contribution is undisclosed.
- Watch next
- Adoption and ongoing quality evaluations.
Pierre acquisition announced
Planned developer-tool expansion for Codex, subject to regulatory and other closing conditions.
- Editorial reading
- Price and payment method are undisclosed; this is not a completed cash outflow.
- Watch next
- Closing, consideration and integration progress.
Daybreak Red expands availability
Available to approved customers in AWS GovCloud (US-East), requiring OpenAI approval and AWS provisioning.
- Editorial reading
- Adds a route to government adoption; contract revenue is undisclosed.
- Watch next
- Deployment examples and changes in eligibility.
Research on physical-product engineering
Announced engineering and simulation work, including research collaboration with Mazda.
- Editorial reading
- Trial results do not establish general availability or recognized revenue.
- Watch next
- External validation and availability terms.
Reported plan to buy Google AI chips
Reuters relays a sourced report by The Information. OpenAI declined comment; Google had not responded when the article was published.
- Editorial reading
- Could diversify suppliers. Not treated as an executed contract or paid expenditure; value, quantities and delivery dates are unknown.
- Watch next
- Company confirmation, purchase terms and overlap with existing computing contracts.
Selected developments, not an exhaustive news feed. Announcement dates are distinct from review dates. Financial analysis and computing commitments follow below.
Financial research
OpenAI at a glance
Growth
Annualized revenue run rate
Approximately USD 50 billionReported on October 19, 2026; measurement date unverified · Media report
A reported measure of revenue momentum, not full-year revenue.
View the evidence →Profitability
Actual gross margin
UnverifiedNo consistent historical reporting period verified · Company disclosure
Insufficient cost disclosure means revenue alone cannot establish profit.
View the evidence →Funding obligations
Funding commitments
USD 122 billionRound closed March 31, 2026 · Company disclosure
Investment commitments, not full payment or current cash.
View the evidence →These indicators have different dates, definitions and scopes. This diagram does not add or subtract the three amounts.
Research assessment
THE SIGNAL’s source-based editorial assessment, not the company’s view.
Growth
Revenue sources are broadening, but comparable revenue measures remain limited.- Evidence
- Consumer subscriptions, enterprise offerings and APIs are available, and growth in annualized revenue has been reported.
- Unverified
- Revenue by product, retention rates, the ARR formula and the scope of net revenue recognition are unverified.
- What to check next
- Full-year revenue on consistent definitions, and product-level payments and continued usage.
Profitability
Revenue growth alone does not establish profitability.- Evidence
- Counterparty financial statements show OpenAI-related transactions, but a complete breakdown of OpenAI’s own income statement is unavailable.
- Unverified
- Gross margin and operating profit, including inference costs, research and development expenses and revenue sharing.
- What to check next
- Gross margin with a defined cost basis, operating cash flow and stock-based compensation.
Actual gross margin → Microsoft revenue related to OpenAI → Microsoft quarterly revenue from OpenAI → Microsoft receivables from OpenAI →
Funding obligations
Track paid-in equity separately from long-term purchase obligations.- Evidence
- Amazon confirms USD 50 billion invested in its September 10-Q. Paid investment is distinct from multiyear computing-service purchases.
- Unverified
- Current cash, annual payments, minimum purchases, cancellation or deferral terms, and total energy and infrastructure costs and financial assurances.
- What to check next
- Actual investment payments, cash balances, contract payment schedules and utilization rates.
SoftBank additional investment paid → Additional AWS service agreement → Current cash balance → Amazon paid-in investment →
- Final tranche of additional OpenAI investment completed — SoftBank Group · 2026-10-01
- Strategic partnership with Amazon — OpenAI · 2026-02-27
- Amazon September 2026 Form 10-Q — Amazon · 2026-10-29
- Grid Protectors: energy costs and grid flexibility — OpenAI · 2026-11-02
- Georgia Power: Effingham electricity and demand-response arrangements — Georgia Power · 2026-07-22
Revenue, funding and computing commitments
Company-described ARR for 2023
Approximately USD 2 billionObserved / disclosed · Company disclosure
2023; measurement date not disclosed
The CFO describes this company-wide revenue measure as ARR. Recurring-revenue scope and annualization formula are undisclosed. Consistency of definitions across years is unverified; do not equate it with full-year revenue or other companies’ ARR.
Definitions and original sources
- Measure and scope
- A revenue measure the CFO calls ARR. The scope of recurring revenue and annualization formula are undisclosed. / OpenAI company-wide
- Period or reference date
- 2023; measurement date not disclosed
- Source location
- Comparison of ARR and computing resources for 2023–2025; revenue-model explanation
- Evidence summary
- A revenue measure the CFO calls ARR. The scope of recurring revenue and annualization formula are undisclosed.
- Comparison limits
- The CFO describes this company-wide revenue measure as ARR. Recurring-revenue scope and annualization formula are undisclosed. Consistency of definitions across years is unverified; do not equate it with full-year revenue or other companies’ ARR.
Revenue and computing-resource growth — OpenAI CFO
Company disclosure · Published 2026-01-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Company-described ARR for 2024
Approximately USD 6 billionObserved / disclosed · Company disclosure
2024; measurement date not disclosed
The CFO describes this company-wide revenue measure as ARR. Recurring-revenue scope and annualization formula are undisclosed. Consistency of definitions across years is unverified; do not equate it with full-year revenue or other companies’ ARR.
Definitions and original sources
- Measure and scope
- A revenue measure the CFO calls ARR. The scope of recurring revenue and annualization formula are undisclosed. / OpenAI company-wide
- Period or reference date
- 2024; measurement date not disclosed
- Source location
- Comparison of ARR and computing resources for 2023–2025; revenue-model explanation
- Evidence summary
- A revenue measure the CFO calls ARR. The scope of recurring revenue and annualization formula are undisclosed.
- Comparison limits
- The CFO describes this company-wide revenue measure as ARR. Recurring-revenue scope and annualization formula are undisclosed. Consistency of definitions across years is unverified; do not equate it with full-year revenue or other companies’ ARR.
Revenue and computing-resource growth — OpenAI CFO
Company disclosure · Published 2026-01-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Company-described ARR for 2025
More than USD 20 billionObserved / disclosed · Company disclosure
2025; measurement date not disclosed
The CFO describes this company-wide revenue measure as ARR. Recurring-revenue scope and annualization formula are undisclosed. Consistency of definitions across years is unverified; do not equate it with full-year revenue or other companies’ ARR.
Definitions and original sources
- Measure and scope
- A revenue measure the CFO calls ARR. The scope of recurring revenue and annualization formula are undisclosed. / OpenAI company-wide
- Period or reference date
- 2025; measurement date not disclosed
- Source location
- Comparison of ARR and computing resources for 2023–2025; revenue-model explanation
- Evidence summary
- A revenue measure the CFO calls ARR. The scope of recurring revenue and annualization formula are undisclosed.
- Comparison limits
- The CFO describes this company-wide revenue measure as ARR. Recurring-revenue scope and annualization formula are undisclosed. Consistency of definitions across years is unverified; do not equate it with full-year revenue or other companies’ ARR.
Revenue and computing-resource growth — OpenAI CFO
Company disclosure · Published 2026-01-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Annualized revenue run rate
Approximately USD 50 billionObserved / disclosed · Media report
Reported on October 19, 2026; measurement date unverified
Reported by sources familiar with the matter. Not full-year revenue; consistency with company-defined ARR and gross-versus-net presentation is unverified.
Definitions and original sources
- Measure and scope
- Annualized revenue reported by sources familiar with the matter. The actual measurement period is not specified. / OpenAI company-wide
- Period or reference date
- Reported on October 19, 2026; measurement date unverified
- Source location
- TRYING TO HEAD OFF COMPARISONS
- Evidence summary
- Annualized revenue reported by sources familiar with the matter. The actual measurement period is not specified.
- Comparison limits
- Reported by sources familiar with the matter. Not full-year revenue; consistency with company-defined ARR and gross-versus-net presentation is unverified.
Annualized revenue and funding negotiations — Reuters (distributed by Investing.com)
Media report · Published 2026-10-19
Document reviewed 2026-11-03T15:32:27Z
Source details
Year-end revenue run-rate forecast
Approximately USD 70 billionForecast · Media report
Forecast for year-end 2026
A reported expectation, not an observed result. Do not connect this forecast to the historical revenue series.
Definitions and original sources
- Measure and scope
- A year-end annualized revenue outlook conveyed by sources familiar with the matter. / OpenAI company-wide
- Period or reference date
- Forecast for year-end 2026
- Source location
- TRYING TO HEAD OFF COMPARISONS
- Evidence summary
- A year-end annualized revenue outlook conveyed by sources familiar with the matter.
- Comparison limits
- A reported expectation, not an observed result. Do not connect this forecast to the historical revenue series.
Annualized revenue and funding negotiations — Reuters (distributed by Investing.com)
Media report · Published 2026-10-19
Document reviewed 2026-11-03T15:32:27Z
Source details
Monthly revenue
Approximately USD 2 billionObserved / disclosed · Company disclosure
Disclosed March 31, 2026; reporting month not specified
Revenue the company said it was generating per month. The month and accounting basis are unknown. Multiplying by 12 does not establish actual annual revenue or ARR.
Definitions and original sources
- Measure and scope
- Revenue the company describes as being generated each month. / OpenAI company-wide
- Period or reference date
- Disclosed March 31, 2026; reporting month not specified
- Source location
- Opening; Deep conviction across global capital; Leadership across consumer and enterprise
- Evidence summary
- Revenue the company describes as being generated each month.
- Comparison limits
- Revenue the company said it was generating per month. The month and accounting basis are unknown. Multiplying by 12 does not establish actual annual revenue or ARR.
Funding round and business metrics — OpenAI
Company disclosure · Published 2026-03-31
Document reviewed 2026-11-05T00:02:27Z
Source details
Full-year revenue forecast
Approximately USD 36 billionForecast · Media report
Calendar year 2026
Reported company plan. The period and definition differ from a run rate. Not actual full-year revenue.
Definitions and original sources
- Measure and scope
- The 2026 revenue outlook in a reported company plan. / OpenAI company-wide
- Period or reference date
- Calendar year 2026
- Source location
- Cumulative FCF and annual revenue forecasts in the article
- Evidence summary
- The 2026 revenue outlook in a reported company plan.
- Comparison limits
- Reported company plan. The period and definition differ from a run rate. Not actual full-year revenue.
Projected cash outflows for 2026–2030 — Reuters / FT (distributed by Investing.com)
Media report · Published 2026-09-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Funding commitments
USD 122 billionObserved / disclosed · Company disclosure
Round closed March 31, 2026
Capital promised in the round. Full payment and current cash balances are unverified. Do not add individual investor commitments again.
Definitions and original sources
- Measure and scope
- Total capital committed in the round. / OpenAI company-wide
- Period or reference date
- Round closed March 31, 2026
- Source location
- Opening; Deep conviction across global capital; Leadership across consumer and enterprise
- Evidence summary
- Total capital committed in the round.
- Comparison limits
- Capital promised in the round. Full payment and current cash balances are unverified. Do not add individual investor commitments again.
Funding round and business metrics — OpenAI
Company disclosure · Published 2026-03-31
Document reviewed 2026-11-05T00:02:27Z
Source details
Post-money equity valuation
USD 852 billionObserved / disclosed · Company disclosure
March 31, 2026 transaction
A funding-round equity valuation, not a traded market price or enterprise value. Separate from valuations under negotiation.
Definitions and original sources
- Measure and scope
- The round’s post-money equity valuation. / OpenAI company-wide
- Period or reference date
- March 31, 2026 transaction
- Source location
- Opening; Deep conviction across global capital; Leadership across consumer and enterprise
- Evidence summary
- The round’s post-money equity valuation.
- Comparison limits
- A funding-round equity valuation, not a traded market price or enterprise value. Separate from valuations under negotiation.
Funding round and business metrics — OpenAI
Company disclosure · Published 2026-03-31
Document reviewed 2026-11-05T00:02:27Z
Source details
Current cash balance
UnverifiedUnverified · Company disclosure
Current balance unverified
Current cash and cash equivalents cannot be established from the reviewed sources. Funding raised is not a substitute; current cash runway is not calculated.
Definitions and original sources
- Measure and scope
- The reviewed documents do not establish the current balance of cash and cash equivalents. / OpenAI company-wide
- Period or reference date
- Current balance unverified
- Source location
- Opening; Deep conviction across global capital; Leadership across consumer and enterprise
- Evidence summary
- The reviewed documents do not establish the current balance of cash and cash equivalents.
- Comparison limits
- Current cash and cash equivalents cannot be established from the reviewed sources. Funding raised is not a substitute; current cash runway is not calculated.
Funding round and business metrics — OpenAI
Company disclosure · Published 2026-03-31
Document reviewed 2026-11-05T00:02:27Z
Source details
Projected cash outflows for 2026–2030 — Reuters / FT (distributed by Investing.com)
Media report · Published 2026-09-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Actual gross margin
UnverifiedUnverified · Company disclosure
No consistent historical reporting period verified
Insufficient detail on inference, training and revenue-sharing costs. Assumed margins must not be presented as actual results.
Definitions and original sources
- Measure and scope
- Insufficient detail on inference, training, revenue sharing and other items included in cost of revenue. / OpenAI company-wide
- Period or reference date
- No consistent historical reporting period verified
- Source location
- Comparison of ARR and computing resources for 2023–2025; revenue-model explanation
- Evidence summary
- Insufficient detail on inference, training, revenue sharing and other items included in cost of revenue.
- Comparison limits
- Insufficient detail on inference, training and revenue-sharing costs. Assumed margins must not be presented as actual results.
Revenue and computing-resource growth — OpenAI CFO
Company disclosure · Published 2026-01-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Projected cash outflows for 2026–2030 — Reuters / FT (distributed by Investing.com)
Media report · Published 2026-09-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Advertising pilot’s company-described ARR
More than USD 0.1 billionObserved / disclosed · Company disclosure
Disclosed March 31, 2026, less than six weeks after launch
The company’s stated lower bound for advertising-pilot ARR. Scope and definition differ from company-wide ARR. Do not infer advertising’s full-year revenue share.
Definitions and original sources
- Measure and scope
- The lower bound announced by the company for its advertising pilot’s ARR. / Advertising pilot
- Period or reference date
- Disclosed March 31, 2026, less than six weeks after launch
- Source location
- Opening; Deep conviction across global capital; Leadership across consumer and enterprise
- Evidence summary
- The lower bound announced by the company for its advertising pilot’s ARR.
- Comparison limits
- The company’s stated lower bound for advertising-pilot ARR. Scope and definition differ from company-wide ARR. Do not infer advertising’s full-year revenue share.
Funding round and business metrics — OpenAI
Company disclosure · Published 2026-03-31
Document reviewed 2026-11-05T00:02:27Z
Source details
Planned Amazon investment
USD 50 billionConditional · Company disclosure
Staged investment announced February 27, 2026
USD 15 billion initially and USD 35 billion subject to conditions. The September 10-Q confirms fulfillment of the USD 50 billion commitment. The paid amount is recorded separately, not added to the commitment or March round.
Definitions and original sources
- Measure and scope
- Planned investment of USD 15 billion initially and USD 35 billion after conditions are met. / OpenAI company-wide
- Period or reference date
- Staged investment announced February 27, 2026
- Source location
- Opening investment conditions; OpenAI to use Trainium compute
- Evidence summary
- Planned investment of USD 15 billion initially and USD 35 billion after conditions are met.
- Comparison limits
- USD 15 billion initially and USD 35 billion subject to conditions. The September 10-Q confirms fulfillment of the USD 50 billion commitment. The paid amount is recorded separately, not added to the commitment or March round.
Strategic partnership with Amazon — OpenAI
Company disclosure · Published 2026-02-27
Document reviewed 2026-11-02T00:56:35Z
Source details
Amazon explanation of its investment — Amazon
Counterparty disclosure · Published 2026-02-27
Document reviewed 2026-10-31T15:29:43Z
Source details
Amazon September 2026 Form 10-Q — Amazon
Counterparty disclosure · Published 2026-10-29
Document reviewed 2026-11-04T12:06:15Z
Source details
SoftBank additional investment commitment
USD 30 billionObserved / disclosed · Company disclosure
Additional investment for 2026, announced February 27
The additional investment allocation announced in February. The final tranche and completed payments are not separate new funding to add to the commitment.
Definitions and original sources
- Measure and scope
- The additional investment allocation announced in February. / OpenAI company-wide
- Period or reference date
- Additional investment for 2026, announced February 27
- Source location
- Opening breakdown of investments
- Evidence summary
- The additional investment allocation announced in February.
- Comparison limits
- The additional investment allocation announced in February. The final tranche and completed payments are not separate new funding to add to the commitment.
Initial funding-round announcement — OpenAI
Company disclosure · Published 2026-02-27
Document reviewed 2026-10-31T15:29:43Z
Source details
SoftBank additional investment paid
USD 30 billionObserved / disclosed · Counterparty disclosure
2026 additional investment, completed October 1
The counterparty stated that the additional investment for 2026 was completed. Not cumulative investment including earlier years, and not OpenAI’s cash balance.
Definitions and original sources
- Measure and scope
- The counterparty explicitly confirms completion of its additional investment for 2026. / OpenAI company-wide
- Period or reference date
- 2026 additional investment, completed October 1
- Source location
- First and second opening paragraphs
- Evidence summary
- The counterparty explicitly confirms completion of its additional investment for 2026.
- Comparison limits
- The counterparty stated that the additional investment for 2026 was completed. Not cumulative investment including earlier years, and not OpenAI’s cash balance.
Final tranche of additional OpenAI investment completed — SoftBank Group
Counterparty disclosure · Published 2026-10-01
Document reviewed 2026-11-05T11:58:11Z
Source details
Microsoft cumulative investment commitment
USD 13 billionObserved / disclosed · Counterparty disclosure
As of September 30, 2026
Investment commitment reported by Microsoft. Its scope may differ from the new March round; do not sum them.
Definitions and original sources
- Measure and scope
- The investment commitment reported by Microsoft. / OpenAI company-wide
- Period or reference date
- As of September 30, 2026
- Source location
- Note 1 / Investments / OpenAI: ASC 850 paragraph
- Evidence summary
- The investment commitment reported by Microsoft.
- Comparison limits
- Investment commitment reported by Microsoft. Its scope may differ from the new March round; do not sum them.
Microsoft FY2027 Q1 Form 10-Q — Microsoft
Counterparty disclosure · Published 2026-10-28
Document reviewed 2026-11-05T00:02:27Z
Source details
Microsoft cumulative funded investment
USD 12 billionObserved / disclosed · Counterparty disclosure
As of September 30, 2026
The funded amount in the counterparty’s financial statements. Part of the USD 13 billion commitment, not an additional funding allocation.
Definitions and original sources
- Measure and scope
- The funded amount in the counterparty’s financial statements. / OpenAI company-wide
- Period or reference date
- As of September 30, 2026
- Source location
- Note 1 / Investments / OpenAI: ASC 850 paragraph
- Evidence summary
- The funded amount in the counterparty’s financial statements.
- Comparison limits
- The funded amount in the counterparty’s financial statements. Part of the USD 13 billion commitment, not an additional funding allocation.
Microsoft FY2027 Q1 Form 10-Q — Microsoft
Counterparty disclosure · Published 2026-10-28
Document reviewed 2026-11-05T00:02:27Z
Source details
Revolving credit facility
Approximately USD 4.7 billionObserved / disclosed · Company disclosure
As of March 31, 2026
Expanded borrowing capacity, not drawn borrowing or cash held. Whether it remains undrawn is unverified.
Definitions and original sources
- Measure and scope
- Expanded borrowing capacity. / OpenAI company-wide
- Period or reference date
- As of March 31, 2026
- Source location
- Opening; Deep conviction across global capital; Leadership across consumer and enterprise
- Evidence summary
- Expanded borrowing capacity.
- Comparison limits
- Expanded borrowing capacity, not drawn borrowing or cash held. Whether it remains undrawn is unverified.
Funding round and business metrics — OpenAI
Company disclosure · Published 2026-03-31
Document reviewed 2026-11-05T00:02:27Z
Source details
Amount drawn on that facility
USD 0 billionObserved / disclosed · Company disclosure
At the March 31, 2026 round closing
The company stated that the facility was undrawn. Zero is the verified value at that date; it does not mean all current borrowing is zero.
Definitions and original sources
- Measure and scope
- The company explicitly states that the credit facility was undrawn. / OpenAI company-wide
- Period or reference date
- At the March 31, 2026 round closing
- Source location
- Opening; Deep conviction across global capital; Leadership across consumer and enterprise
- Evidence summary
- The company explicitly states that the credit facility was undrawn.
- Comparison limits
- The company stated that the facility was undrawn. Zero is the verified value at that date; it does not mean all current borrowing is zero.
Funding round and business metrics — OpenAI
Company disclosure · Published 2026-03-31
Document reviewed 2026-11-05T00:02:27Z
Source details
Existing AWS service contract
USD 38 billionConditional · Company disclosure
Seven years from the 2025 announcement; announced November 3
A multiyear service-purchase commitment. Its period differs from the additional USD 100 billion agreement. Do not derive an annual expense by dividing the total.
Definitions and original sources
- Measure and scope
- A multiyear service-purchase commitment. / OpenAI company-wide
- Period or reference date
- Seven years from the 2025 announcement; announced November 3
- Source location
- Contract description immediately after Key takeaways
- Evidence summary
- A multiyear service-purchase commitment.
- Comparison limits
- A multiyear service-purchase commitment. Its period differs from the additional USD 100 billion agreement. Do not derive an annual expense by dividing the total.
Multiyear agreement with AWS — OpenAI
Company disclosure · Published 2025-11-03
Document reviewed 2026-10-31T15:29:43Z
Source details
Additional AWS service agreement
USD 100 billionConditional · Company disclosure
Eight-year agreement announced February 27, 2026
Additional to the existing USD 38 billion agreement. Do not describe USD 138 billion as a single eight-year contract. Annual payments and minimum consumption details are unverified.
Definitions and original sources
- Measure and scope
- An addition to the existing USD 38 billion agreement. / OpenAI company-wide
- Period or reference date
- Eight-year agreement announced February 27, 2026
- Source location
- Opening investment conditions; OpenAI to use Trainium compute
- Evidence summary
- An addition to the existing USD 38 billion agreement.
- Comparison limits
- Additional to the existing USD 38 billion agreement. Do not describe USD 138 billion as a single eight-year contract. Annual payments and minimum consumption details are unverified.
Strategic partnership with Amazon — OpenAI
Company disclosure · Published 2026-02-27
Document reviewed 2026-11-02T00:56:35Z
Source details
Additional Azure service purchases
USD 250 billionConditional · Counterparty disclosure
Announced October 28, 2025; contract duration unverified
Additional Azure purchase amount announced by the counterparty. With duration unknown, it cannot be converted into an annual expense or annual average.
Definitions and original sources
- Measure and scope
- Additional Azure service purchases announced by the counterparty. / OpenAI company-wide
- Period or reference date
- Announced October 28, 2025; contract duration unverified
- Source location
- Azure purchase item under What has evolved
- Evidence summary
- Additional Azure service purchases announced by the counterparty.
- Comparison limits
- Additional Azure purchase amount announced by the counterparty. With duration unknown, it cannot be converted into an annual expense or annual average.
New agreement with Microsoft — Microsoft
Counterparty disclosure · Published 2025-10-28
Document reviewed 2026-10-31T15:29:43Z
Source details
Total CoreWeave agreements
Up to USD 22.4 billionConditional · Counterparty disclosure
Agreements announced through September 25, 2025
Maximum total of approximately USD 22.4 billion, including earlier agreements. The additional USD 6.5 billion is included. Agreements have different terms; do not allocate the whole amount to one period.
Definitions and original sources
- Measure and scope
- A maximum total of approximately USD 22.4 billion, including earlier agreements. / OpenAI company-wide
- Period or reference date
- Agreements announced through September 25, 2025
- Source location
- Opening contract total and description of previous agreements
- Evidence summary
- A maximum total of approximately USD 22.4 billion, including earlier agreements.
- Comparison limits
- Maximum total of approximately USD 22.4 billion, including earlier agreements. The additional USD 6.5 billion is included. Agreements have different terms; do not allocate the whole amount to one period.
OpenAI agreement expanded by up to USD 6.5 billion — CoreWeave
Counterparty disclosure · Published 2025-09-25
Document reviewed 2026-10-31T15:29:43Z
Source details
Additional CoreWeave order form
Up to USD 6.5 billionConditional · Counterparty disclosure
September 2025 order form through May 31, 2031
Maximum payment commitment of approximately USD 6.5 billion disclosed in a regulatory filing, included in the USD 22.4 billion total. Detailed payment schedules and termination conditions are unverified.
Definitions and original sources
- Measure and scope
- A payment commitment of up to approximately USD 6.5 billion stated in a regulatory filing. / OpenAI company-wide
- Period or reference date
- September 2025 order form through May 31, 2031
- Source location
- Opening contract total and description of previous agreements
- Evidence summary
- A payment commitment of up to approximately USD 6.5 billion stated in a regulatory filing.
- Comparison limits
- Maximum payment commitment of approximately USD 6.5 billion disclosed in a regulatory filing, included in the USD 22.4 billion total. Detailed payment schedules and termination conditions are unverified.
OpenAI agreement expanded by up to USD 6.5 billion — CoreWeave
Counterparty disclosure · Published 2025-09-25
Document reviewed 2026-10-31T15:29:43Z
Source details
CoreWeave FY2025 Form 10-K — CoreWeave
Counterparty disclosure · Published Unverified
Document reviewed 2026-10-31T15:29:43Z
Source details
OpenAI standalone capital expenditure
UnverifiedUnverified · Company disclosure
Reporting period and actual amount unverified
Standalone capital expenditure cannot be isolated from the reviewed sources. Joint infrastructure plans and computing-service purchases are not equivalent to OpenAI’s own capital expenditure.
Definitions and original sources
- Measure and scope
- Standalone capital expenditure cannot be isolated from the reviewed documents. / OpenAI company-wide
- Period or reference date
- Reporting period and actual amount unverified
- Source location
- Comparison of ARR and computing resources for 2023–2025; revenue-model explanation
- Evidence summary
- Standalone capital expenditure cannot be isolated from the reviewed documents.
- Comparison limits
- Standalone capital expenditure cannot be isolated from the reviewed sources. Joint infrastructure plans and computing-service purchases are not equivalent to OpenAI’s own capital expenditure.
Revenue and computing-resource growth — OpenAI CFO
Company disclosure · Published 2026-01-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Stargate project announcement — OpenAI
Company disclosure · Published 2025-01-21
Document reviewed 2026-10-31T15:29:43Z
Source details
Stargate joint infrastructure plan
USD 500 billionConditional · Company disclosure
Four years from the January 21, 2025 announcement
Intended U.S. AI infrastructure investment by the joint venture as a whole, not OpenAI’s standalone debt or cash outflow. Economic overlap with AWS and other arrangements is unverified.
Definitions and original sources
- Measure and scope
- Intended U.S. AI infrastructure investment by the joint project. / Stargate joint project as a whole
- Period or reference date
- Four years from the January 21, 2025 announcement
- Source location
- Opening and explanation of investors and responsibilities
- Evidence summary
- Intended U.S. AI infrastructure investment by the joint project.
- Comparison limits
- Intended U.S. AI infrastructure investment by the joint venture as a whole, not OpenAI’s standalone debt or cash outflow. Economic overlap with AWS and other arrangements is unverified.
Stargate project announcement — OpenAI
Company disclosure · Published 2025-01-21
Document reviewed 2026-10-31T15:29:43Z
Source details
NVIDIA investment-intent ceiling
Up to USD 100 billionConditional · Company disclosure
Announced September 22, 2025; tied to deployment, completion date unverified
Ceiling for staged investment under a letter of intent. Whether the 2026 USD 30 billion investment is included is unverified. Do not add the two amounts.
Definitions and original sources
- Measure and scope
- The ceiling for staged investment under a letter of intent. / OpenAI company-wide
- Period or reference date
- Announced September 22, 2025; tied to deployment, completion date unverified
- Source location
- News and description of the letter of intent
- Evidence summary
- The ceiling for staged investment under a letter of intent.
- Comparison limits
- Ceiling for staged investment under a letter of intent. Whether the 2026 USD 30 billion investment is included is unverified. Do not add the two amounts.
Proposed infrastructure partnership with NVIDIA — Joint OpenAI / NVIDIA announcement
Company disclosure · Published 2025-09-22
Document reviewed 2026-10-31T15:29:43Z
Source details
NVIDIA 2026 investment allocation
USD 30 billionConditional · Company disclosure
Funding round announced February 27, 2026
Investment amount announced by the company in February; part of the March round total. Do not simply add it to the USD 100 billion stated in the 2025 letter of intent.
Definitions and original sources
- Measure and scope
- The investment amount announced by the company in February. / OpenAI company-wide
- Period or reference date
- Funding round announced February 27, 2026
- Source location
- Opening breakdown of investments
- Evidence summary
- The investment amount announced by the company in February.
- Comparison limits
- Investment amount announced by the company in February; part of the March round total. Do not simply add it to the USD 100 billion stated in the 2025 letter of intent.
Initial funding-round announcement — OpenAI
Company disclosure · Published 2026-02-27
Document reviewed 2026-10-31T15:29:43Z
Source details
Microsoft receivables from OpenAI
USD 6 billionObserved / disclosed · Counterparty disclosure
As of June 30, 2026
Accounts receivable from OpenAI disclosed by Microsoft. Not synonymous with OpenAI’s total liabilities, cash balance or overdue payments.
Definitions and original sources
- Measure and scope
- Accounts receivable from OpenAI disclosed by Microsoft. / Microsoft’s OpenAI-related transactions
- Period or reference date
- As of June 30, 2026
- Source location
- Notes to Financial Statements: OpenAI / ASC 850 paragraph
- Evidence summary
- Accounts receivable from OpenAI disclosed by Microsoft.
- Comparison limits
- Accounts receivable from OpenAI disclosed by Microsoft. Not synonymous with OpenAI’s total liabilities, cash balance or overdue payments.
Microsoft 2026 Annual Report — Microsoft
Counterparty disclosure · Published Unverified
Document reviewed 2026-10-31T15:29:43Z
Source details
Cumulative free cash flow forecast
Approximately USD -278 billionForecast · Media report
Cumulative forecast for 2026–2030
Reported company plan for cumulative negative free cash flow. Not annual losses or historical results; it does not establish current cash runway.
Definitions and original sources
- Measure and scope
- Cumulative negative free cash flow in a company plan described by media reporting. / OpenAI company-wide
- Period or reference date
- Cumulative forecast for 2026–2030
- Source location
- Cumulative FCF and annual revenue forecasts in the article
- Evidence summary
- Cumulative negative free cash flow in a company plan described by media reporting.
- Comparison limits
- Reported company plan for cumulative negative free cash flow. Not annual losses or historical results; it does not establish current cash runway.
Projected cash outflows for 2026–2030 — Reuters / FT (distributed by Investing.com)
Media report · Published 2026-09-18
Document reviewed 2026-10-31T15:29:43Z
Source details
Amazon paid-in investment
USD 50 billionObserved / disclosed · Counterparty disclosure
January–September 2026; as of September 30
USD 50 billion invested in Series C preferred stock: 15 billion, 13.7 billion and 21.3 billion in the first three quarters. Fulfillment of the existing commitment, not additional funding or current cash.
Definitions and original sources
- Measure and scope
- Amazon’s cumulative investment in OpenAI Series C preferred stock: USD 15 + 13.7 + 21.3 = 50 billion. / OpenAI company-wide
- Period or reference date
- January–September 2026; as of September 30
- Source location
- Notes to Financial Statements / Non-Marketable Investments / OpenAI; investing cash flows
- Evidence summary
- Amazon’s cumulative investment in OpenAI Series C preferred stock: USD 15 + 13.7 + 21.3 = 50 billion.
- Comparison limits
- USD 50 billion invested in Series C preferred stock: 15 billion, 13.7 billion and 21.3 billion in the first three quarters. Fulfillment of the existing commitment, not additional funding or current cash.
Amazon September 2026 Form 10-Q — Amazon
Counterparty disclosure · Published 2026-10-29
Document reviewed 2026-11-04T12:06:15Z
Source details
Microsoft receivables from OpenAI
USD 7.2 billionObserved / disclosed · Counterparty disclosure
As of September 30, 2026
Microsoft accounts receivable, not overdue payments, OpenAI total debt or cash. Keep separate from the June 30 balance.
Definitions and original sources
- Measure and scope
- Microsoft’s outstanding accounts receivable from OpenAI. / Microsoft’s OpenAI-related transactions
- Period or reference date
- As of September 30, 2026
- Source location
- Note 1 / Investments / OpenAI: ASC 850 paragraph
- Evidence summary
- Microsoft’s outstanding accounts receivable from OpenAI.
- Comparison limits
- Microsoft accounts receivable, not overdue payments, OpenAI total debt or cash. Keep separate from the June 30 balance.
Microsoft FY2027 Q1 Form 10-Q — Microsoft
Counterparty disclosure · Published 2026-10-28
Document reviewed 2026-11-05T00:02:27Z
Source details
What is known about profitability
Gross profit and cash flow cannot yet be reconciled
Actual gross margin remains unverified. Profit and loss, including research and development, stock-based compensation and depreciation, must be distinguished from cash flows involving cash payments.
Approximately USD -278 billion cumulative FCF forecast is a reported plan for 2026–2030. It does not indicate annual losses or current cash runway.
Counterparty statements provide supporting context
- Microsoft quarterly revenue from OpenAI
- USD 10 billion
July–September 2026 (Microsoft FY2027 Q1)
- Microsoft receivables from OpenAI
- USD 7.2 billion
As of September 30, 2026
- Microsoft revenue related to OpenAI
- USD 24.1 billion
Microsoft fiscal year July 1, 2025–June 30, 2026
- Microsoft receivables from OpenAI
- USD 6 billion
As of June 30, 2026
These are Microsoft’s recognized revenue and receivables. They cannot be directly reinterpreted as OpenAI’s costs, cash payments, overdue balances or total liabilities.
Revenue-sharing terms were updated in April 2026. The rate and aggregate cap remain unverified.
Funding and contract ledger
Payment timing, responsibility and overlap with existing agreements are recorded separately. Do not add totals indiscriminately: borrowing capacity differs from drawn amounts, commitments differ from paid-in equity, and additions may be included in parent agreements. Multiyear purchase totals are not annual expenses, and the Stargate joint plan is not OpenAI’s standalone payment obligation.
Raise capital
9 ledger entries · Commitments / paid-in equity
Do not add commitments and payments together.
Filter the ledger →Borrow
2 ledger entries · Credit capacity / drawn amounts
Separate the amount available to borrow from the amount drawn.
Filter the ledger →Secure computing resources
5 ledger entries · Service purchases
Multiyear contracts are not one year of expenses.
Filter the ledger →Equipment and joint plans
2 ledger entries · Standalone capex / joint investment
A joint-project total is not standalone OpenAI debt.
Filter the ledger →Amazon, NVIDIA, SoftBank and others
Equity commitment · Announced 2026-03-31
USD 122 billion — Funding commitments
- Period
- March 2026 funding round
- Progress
- Round closed; full receipt of funds unverified
- Conditions
- Check each investor’s payment conditions in its disclosures. The total is not a cash balance.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Full payment and current cash are unverified. Do not add individual investors’ amounts again.
- Funding round and business metrics — OpenAI · Checked 2026-11-05T00:02:27Z
Amazon
Equity commitment · Announced 2026-02-27
USD 50 billion — Planned Amazon investment
- Period
- Staged investment; end date unverified
- Progress
- Counterparty’s September 10-Q confirms the full investment by September 30
- Conditions
- Originally USD 15 billion initially and USD 35 billion subject to conditions. Fulfillment is recorded separately. Detailed conditions remain unverified.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- The USD 50 billion paid fulfills this commitment and is included in the March round. Do not count it again as additional funding.
- Included in: Amazon, NVIDIA, SoftBank and others · round
- Strategic partnership with Amazon — OpenAI · Checked 2026-11-02T00:56:35Z
- Amazon explanation of its investment — Amazon · Checked 2026-10-31T15:29:43Z
- Amazon September 2026 Form 10-Q — Amazon · Checked 2026-11-04T12:06:15Z
SoftBank Group
Equity commitment · Announced 2026-02-27
USD 30 billion — SoftBank additional investment commitment
- Period
- Additional investment for 2026
- Progress
- Payment-completion disclosure available
- Conditions
- The completed amount is recorded separately with a settles relationship.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Do not count the final tranche or completed payments again as new funding.
- Included in: Amazon, NVIDIA, SoftBank and others · round
- Initial funding-round announcement — OpenAI · Checked 2026-10-31T15:29:43Z
SoftBank Group
Paid-in equity · Announced 2026-10-01
USD 30 billion — SoftBank additional investment paid
- Period
- Additional investment for 2026; completed October 1
- Progress
- Counterparty announced completion of payment
- Conditions
- The final USD 10 billion is included in the USD 30 billion total.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Not cumulative investment including 2025 or earlier, and not a cash balance.
- Fulfills through payment: SoftBank Group · sb-commit
- Final tranche of additional OpenAI investment completed — SoftBank Group · Checked 2026-11-05T11:58:11Z
Microsoft
Equity commitment · Announced Unverified
USD 13 billion — Microsoft cumulative investment commitment
- Period
- Cumulative as of 2026-09-30
- Progress
- USD 12 billion funded out of a cumulative USD 13 billion commitment
- Conditions
- The USD 12 billion funded is part of the commitment.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- The scope may differ from the new March round; do not add them together.
- Microsoft FY2027 Q1 Form 10-Q — Microsoft · Checked 2026-11-05T00:02:27Z
Microsoft
Paid-in equity · Announced Unverified
USD 12 billion — Microsoft cumulative funded investment
- Period
- Cumulative as of 2026-09-30
- Progress
- USD 12 billion funded out of a cumulative USD 13 billion commitment
- Conditions
- The cited paragraph does not establish the detailed form of funding, such as cash or cloud resources.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Included in the USD 13 billion commitment, not an additional funding allocation.
- Fulfills through payment: Microsoft · ms-commit
- Microsoft FY2027 Q1 Form 10-Q — Microsoft · Checked 2026-11-05T00:02:27Z
Bank syndicate
Credit facility · Announced 2026-03-31
Approximately USD 4.7 billion — Revolving credit facility
- Period
- As of 2026-03-31; maturity unverified
- Progress
- Expansion of the facility announced
- Conditions
- Borrowing capacity. Detailed maturity, interest-rate and collateral terms are unverified.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Not drawn borrowing or cash held. Whether it is still undrawn is unverified.
- Funding round and business metrics — OpenAI · Checked 2026-11-05T00:02:27Z
Bank syndicate
Drawn borrowing · Announced 2026-03-31
USD 0 billion — Amount drawn on that facility
- Period
- As of 2026-03-31
- Progress
- Undrawn at that date
- Conditions
- Subsequent borrowing activity is unverified.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Zero is the verified value at that date; it does not mean all current borrowing is zero.
- Included in: Bank syndicate · credit
- Funding round and business metrics — OpenAI · Checked 2026-11-05T00:02:27Z
Amazon Web Services
Computing-service purchase · Announced 2025-11-03
USD 38 billion — Existing AWS service contract
- Period
- Seven years from the 2025 announcement
- Progress
- Contract announced; actual payments unverified
- Conditions
- Access to computing resources. Annual payment schedules are unverified.
- Minimum purchase
- Unverified (the announced amount does not establish a minimum purchase obligation)
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- The additional USD 100 billion has a different contract period. Do not derive annual expenses by dividing the total.
- Multiyear agreement with AWS — OpenAI · Checked 2026-10-31T15:29:43Z
Amazon Web Services
Computing-service purchase · Announced 2026-02-27
USD 100 billion — Additional AWS service agreement
- Period
- Eight-year agreement announced in 2026
- Progress
- Expansion of the existing agreement
- Conditions
- Additional to the existing USD 38 billion agreement. The two contracts do not share the same starting date and period.
- Minimum purchase
- Unverified (the announced amount does not establish a minimum purchase obligation)
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Do not describe USD 138 billion as a single eight-year contract. Annual payments and minimum consumption details are unverified.
- Additional agreement; separate period: Amazon Web Services · aws-old
- Strategic partnership with Amazon — OpenAI · Checked 2026-11-02T00:56:35Z
Microsoft Azure
Computing-service purchase · Announced 2025-10-28
USD 250 billion — Additional Azure service purchases
- Period
- Contract period unverified
- Progress
- Additional purchase agreement announced
- Conditions
- Partnership terms were updated in April 2026. Revenue sharing is a separate condition; the rate and cap were not disclosed.
- Minimum purchase
- Unverified (the announced amount does not establish a minimum purchase obligation)
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- With the period unknown, do not convert the total into annual expenses or an annual average.
- New agreement with Microsoft — Microsoft · Checked 2026-10-31T15:29:43Z
CoreWeave
Computing-service purchase · Announced 2025-09-25
Up to USD 22.4 billion — Total CoreWeave agreements
- Period
- Multiple agreements with different end dates
- Progress
- Total contract amount announced
- Conditions
- Maximum total includes the initial USD 11.9 billion, USD 4 billion in May and USD 6.5 billion in September.
- Minimum purchase
- Unverified (the announced amount does not establish a minimum purchase obligation)
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- The additional USD 6.5 billion is included. Agreements have different periods; do not assign the whole amount to one period.
- OpenAI agreement expanded by up to USD 6.5 billion — CoreWeave · Checked 2026-10-31T15:29:43Z
CoreWeave
Computing-service purchase · Announced 2025-09-25
Up to USD 6.5 billion — Additional CoreWeave order form
- Period
- September 2025 to 2031-05-31
- Progress
- Order form verified in a regulatory filing
- Conditions
- Up to approximately USD 6.5 billion, not a fixed payment amount or equal annual installments.
- Minimum purchase
- Unverified (the announced amount does not establish a minimum purchase obligation)
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Included in the USD 22.4 billion total. Detailed payment schedules and termination conditions are unverified.
- Included in: CoreWeave · cw-all
- OpenAI agreement expanded by up to USD 6.5 billion — CoreWeave · Checked 2026-10-31T15:29:43Z
- CoreWeave FY2025 Form 10-K — CoreWeave · Checked 2026-10-31T15:29:43Z
OpenAI standalone
Standalone capital expenditure · Announced 2026-01-18
Unverified — OpenAI standalone capital expenditure
- Period
- Unverified
- Progress
- Unverified
- Conditions
- Separate standalone capital expenditure from joint ventures and service purchases.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Do not equate joint-project plans or computing-service purchase agreements with OpenAI’s own capital expenditure.
- Revenue and computing-resource growth — OpenAI CFO · Checked 2026-10-31T15:29:43Z
- Stargate project announcement — OpenAI · Checked 2026-10-31T15:29:43Z
SoftBank, OpenAI, Oracle and MGX
Joint-project plan · Announced 2025-01-21
USD 500 billion — Stargate joint infrastructure plan
- Period
- Four years from the 2025 announcement
- Progress
- Joint-project plan
- Conditions
- OpenAI’s share of the financial burden, borrowing guarantees and payment schedule are unverified.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- Joint project as a whole
- Aggregation limits
- Not OpenAI’s standalone debt or cash outflow. Economic overlap with AWS and other arrangements is also unverified.
- Stargate project announcement — OpenAI · Checked 2026-10-31T15:29:43Z
NVIDIA
Equity commitment · Announced 2025-09-22
Up to USD 100 billion — NVIDIA investment-intent ceiling
- Period
- Linked to infrastructure deployment; end date unverified
- Progress
- 2025 letter of intent
- Conditions
- Not treated as a definitive agreement or completed payment.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Overlap with the USD 30 billion investment in 2026 is unverified. Do not add the two amounts.
- Proposed infrastructure partnership with NVIDIA — Joint OpenAI / NVIDIA announcement · Checked 2026-10-31T15:29:43Z
NVIDIA
Equity commitment · Announced 2026-02-27
USD 30 billion — NVIDIA 2026 investment allocation
- Period
- 2026 funding round
- Progress
- Investment amount announced
- Conditions
- Overlap with the 2025 letter of intent is unverified.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Part of the March round total. Do not simply add it to the USD 100 billion in the 2025 letter of intent.
- Included in: Amazon, NVIDIA, SoftBank and others · round
- Overlap unverified: NVIDIA · nv-intent
- Initial funding-round announcement — OpenAI · Checked 2026-10-31T15:29:43Z
Amazon
Paid-in equity · Announced 2026-10-29
USD 50 billion — Amazon paid-in investment
- Period
- January–September 2026; invested by September 30
- Progress
- USD 50 billion invested
- Conditions
- Fulfillment of the original staged investment commitment, through preferred stock.
- Minimum purchase
- Not applicable
- Cancellation or deferral
- Unverified
- Scope
- OpenAI transaction
- Aggregation limits
- Fulfills the amazon entry. Do not add it to the round total or the original commitment.
- Fulfills through payment: Amazon · amazon
- Amazon September 2026 Form 10-Q — Amazon · Checked 2026-11-04T12:06:15Z
CoreWeave’s total includes the additional order form. The existing and additional AWS contracts cover different periods and cannot be compared using simple annual averages.
Connecting revenue and funding to available cash
Cash coming in
Customer payments
Paid-in equity and drawn borrowing
Revenue recognition and cash collection differ. Investment commitments and unused borrowing capacity are tracked separately.
Available cash
Current balance unverifiedOpening cash + receipts − payments
Cash-balance verification status →This is a simplified cash relationship. Exchange-rate movements, restricted cash and other factors require separate examination.
Cash going out
Computing resources, research and development, personnel
Equipment purchases, interest, principal repayments and other payments
Expense recognition and cash payments differ. A multiyear contract total is not a single year’s cash expenditure.
Current cash runway is not calculated because the current balance and complete cash-outflow picture are unavailable. The next evidence needed is cash balances, operating cash flow and annual payment schedules for each contract.
Investment and computing relationships
Investors → OpenAI
Equity investment · Equity investment · payment confirmed
USD 30 billion
Additional investment for 2026; completed October 1
Contract and sources →Equity investment · Equity investment · payment confirmed
USD 50 billion
January–September 2026; completed by September 30
Contract and sources →Equity investment · Cumulative funded investment
USD 12 billion
As of September 30, 2026
Contract and sources →Equity investment · Investment commitment
See the ledger for amounts and conditions
Payment timing unverified
Contract and sources →Funding and resource use are separate.
OpenAI ⇄ principal suppliers
Service purchase · Service purchase
USD 100 billion
Additional agreement; eight years
AWS → OpenAI: supply contract, not a cash flow
Contract and sources →Service purchase · Service purchase
Period unverified
Duration unverified; see the contract ledger for the amount
Azure → OpenAI: supply contract, not a cash flow
Contract and sources →Service purchase · Service purchase
Up to USD 6.5 billion
Through May 31, 2031
CoreWeave → OpenAI: supply contract, not a cash flow
Contract and sources →Amounts are in USD. Amounts on relationships are shown only where the period is also established. Supply arrows describe contractual relationships, not completion of deployment for all capacity.
When an investor is also a supplier, funding terms and purchase terms need to be read together. This relationship alone does not establish improper circular transactions or fictitious revenue. The full relationship list below provides the same underlying context on mobile.
Arrows show the relationship direction, not a common payment date or a net cash flow. Investments, purchases and resource supply are separate. Amounts with different periods must not be added together.
SoftBank → OpenAI
Equity investment · Equity investment · payment confirmed
Additional investment for 2026; completed October 1
USD 30 billion — SoftBank additional investment paid
Contract details and conditions →Amazon → OpenAI
Equity investment · Equity investment · payment confirmed
January–September 2026; completed by September 30
USD 50 billion — Amazon paid-in investment
Contract details and conditions →Microsoft → OpenAI
Equity investment · Cumulative funded investment
As of September 30, 2026
USD 12 billion — Microsoft cumulative funded investment
Contract details and conditions →NVIDIA → OpenAI
Equity investment · Investment commitment
Payment timing unverified
No amount is shown on this relationship; this does not mean zero.
Contract details and conditions →OpenAI → AWS
Service purchase · Service purchase
Additional agreement; eight years
USD 100 billion — Additional AWS service agreement
Contract details and conditions →AWS → OpenAI
Resource supply · Computing-resource supply agreement
Additional agreement; eight years
No amount is shown on this relationship; this does not mean zero.
Contract details and conditions →OpenAI → Azure
Service purchase · Service purchase
Duration unverified; see the contract ledger for the amount
No amount is shown on this relationship; this does not mean zero.
Contract details and conditions →Azure → OpenAI
Resource supply · Computing-resource supply agreement
Major cloud partner
No amount is shown on this relationship; this does not mean zero.
Contract details and conditions →OpenAI → CoreWeave
Service purchase · Service purchase
Through May 31, 2031
Up to USD 6.5 billion — Additional CoreWeave order form
Contract details and conditions →CoreWeave → OpenAI
Resource supply · Computing-resource supply agreement
Through May 31, 2031
No amount is shown on this relationship; this does not mean zero.
Contract details and conditions →Revenue sources and comparability
Revenue shares are unverified
Disclosures needed to assess profit
This is a schematic of the business structure. Arrow widths and box sizes do not represent revenue shares or amounts.
ChatGPT
Recurring subscriptions to paid consumer plans
- What is known
- A major customer interface. Standalone revenue and gross margin are unverified in the reviewed sources.
- Overlap and limits
- Enterprise ChatGPT contracts also exist, so ChatGPT and enterprise are not mutually exclusive categories.
- What to check next
- Paid conversion, churn and cost per unit of usage.
Enterprise
Seat-based contracts and enterprise usage charges
- What is known
- The company has disclosed enterprise revenue as a share of total revenue.
- Overlap and limits
- A customer-based category that overlaps with API and ChatGPT products. Do not add it to a product-level breakdown.
- What to check next
- Renewal rates, usage expansion and contract pricing.
API
Usage-based charges to developers and businesses
- What is known
- Standalone revenue and revenue share are unverified. Revenue recognition through partners also requires care.
- Overlap and limits
- Overlaps with enterprise customers and cloud distribution. Gross-versus-net recognition changes comparisons.
- What to check next
- Effective pricing, inference costs and the definition of net revenue recognition.
Other
Advertising, commerce and other monetization
- What is known
- A lower bound was disclosed for the advertising pilot’s company-described ARR. It is not realized annual revenue.
- Overlap and limits
- Do not mix advertising ARR and company-wide revenue to infer a revenue share.
- What to check next
- Persistence, recognized revenue and costs.
Revenue growth: observations by source
ARR, revenue run rate and full-year revenue are distinct measures. Even where the ARR label is shared, continuity of its calculation is unverified; these observations are not converted into a line chart or growth rates.
Company-described ARR
| Metric and period | Value | Classification and precision | Evidence |
|---|---|---|---|
| Company-described ARR for 2023 2023; measurement date not disclosed | Approximately USD 2 billion | Company disclosure · Observed / disclosed · Approximate | Definitions and sources |
| Company-described ARR for 2024 2024; measurement date not disclosed | Approximately USD 6 billion | Company disclosure · Observed / disclosed · Approximate | Definitions and sources |
| Company-described ARR for 2025 2025; measurement date not disclosed | More than USD 20 billion | Company disclosure · Observed / disclosed · Lower bound | Definitions and sources |
Figures from the same CFO presentation. The formula, measurement dates and consistency of definitions are undisclosed. No growth rate is calculated and the figures are not joined into a line chart.
Reported revenue run rates
| Metric and period | Value | Classification and precision | Evidence |
|---|---|---|---|
| Annualized revenue run rate Reported on October 19, 2026; measurement date unverified | Approximately USD 50 billion | Media report · Observed / disclosed · Approximate | Definitions and sources |
| Year-end revenue run-rate forecast Forecast for year-end 2026 | Approximately USD 70 billion | Media report · Forecast · Approximate | Definitions and sources |
The annualized observation and year-end forecast are kept separate, and are not joined to the company ARR series.
Period revenue and full-year forecasts
| Metric and period | Value | Classification and precision | Evidence |
|---|---|---|---|
| Monthly revenue Disclosed March 31, 2026; reporting month not specified | Approximately USD 2 billion | Company disclosure · Observed / disclosed · Approximate | Definitions and sources |
| Full-year revenue forecast Calendar year 2026 | Approximately USD 36 billion | Media report · Forecast · Approximate | Definitions and sources |
Monthly revenue and annual forecasts cover different periods. Monthly revenue multiplied by 12 is not presented as confirmed annual revenue.
Illustrative gross-profit sensitivity
Assumed revenue × assumed gross margin. All amounts are USD billions. These are scenarios, not company forecasts or actual margins. Gross profit is not operating profit, net profit or free cash flow.
| Assumed revenue | 20% gross margin | 40% gross margin | 60% gross margin |
|---|---|---|---|
| 30 | 6 | 12 | 18 |
| 50 | 10 | 20 | 30 |
| 70 | 14 | 28 | 42 |
Adjust your assumptions
These are reader-entered assumptions, not actual results or company or media forecasts. Gross profit = revenue × gross margin. Computing costs already included in cost of revenue are not deducted again. This calculation does not estimate research and development costs or convert gross profit into operating profit or cash burn.
Inference costs and pricing can change gross profit even at the same revenue. This calculation does not establish operating profit, free cash flow or cash runway.
Reference valuation / revenue run rate: 17.04×. The March 31 transaction valuation and October 19 reported run rate have different dates and definitions. This is not a price target or a valuation recommendation.
Disclosures that could change the assessment
Conditional research considerations, not forecasts of disclosure dates or outcomes.
Full-year revenue and product breakdown on consistent definitions
Expected disclosure date: Unverified
- Current assessment
- The direction of growth is visible, but a revenue series on consistent definitions is not established.
- Evidence that would strengthen the assessment
- Continued growth on the same definition and evidence of ongoing paid usage would increase confidence in the durability of growth.
- Evidence that would weaken the assessment
- If definition changes or net-revenue adjustments explain most of the increase, apparent growth would need to be reassessed.
Gross margin and the scope of costs
Expected disclosure date: Unverified
- Current assessment
- A conclusion on profitability remains on hold.
- Evidence that would strengthen the assessment
- Improving gross margins including inference and revenue-sharing costs would provide evidence of benefits from scale.
- Evidence that would weaken the assessment
- If lower prices and higher usage cause costs to rise faster than revenue, revenue growth and profitability would diverge further.
Cash balances, paid-in funding and annual contract payments
Expected disclosure date: Unverified
- Current assessment
- Amazon payment of USD 50 billion is confirmed. Current cash and funding headroom remain unverified.
- Evidence that would strengthen the assessment
- Confirmation of completed funding payments and staggered payment schedules would make near-term funding obligations more concrete.
- Evidence that would weaken the assessment
- Earlier payments or deteriorating financing terms would require a reassessment of the need for additional funding.
Current cash balance → SoftBank additional investment paid → Additional CoreWeave order form → Amazon paid-in investment →
Electric-service and infrastructure payments and financial assurances
Expected disclosure date: Unverified
- Current assessment
- Both parties disclose cost responsibility for the planned Effingham campus. The demand-response agreement spans 25 years; total costs, annual payments and assurance amounts are unverified.
- Evidence that would strengthen the assessment
- Disclosed pricing, payment schedules and operating conditions would clarify funding obligations.
- Evidence that would weaken the assessment
- Large upfront payments, minimum payments or guarantees would require a reassessment of additional funding needs.
Pierre acquisition closing, consideration and payment method
Expected disclosure date: Unverified
- Current assessment
- Announced November 4, subject to regulatory approvals and other closing conditions. Consideration, cash payments and revenue contribution are unverified.
- Evidence that would strengthen the assessment
- Closing and post-integration usage and revenue disclosures would help assess the contribution to Codex.
- Evidence that would weaken the assessment
- Cash consideration and integration costs would allow reassessment of additional funding needs.
Do not combine funding commitments, paid-in equity, credit facilities, service contracts and joint infrastructure plans as if they were the same measure of available cash or annual expenses. The contract ledger above records their different scopes, conditions and overlapping amounts.
Research update history
These are changes to the underlying research, not the dates when this English translation was published.
Added planned Pierre acquisition to the disclosure watchlist
· Addition
- Before
- The planned Pierre acquisition was not included.
- After
- Checked the November 4 company announcement on Codex developer tools and closing conditions.
- Effect on interpretation
- Added consideration and payment method to the next items to check. The pending transaction is not a completed cash outflow; price and revenue contribution are not estimated.
Added energy-cost responsibility for a planned campus
· Addition
- Before
- Funding analysis focused on investment payments and computing-service contracts.
- After
- Checked the November 2 company statement against Georgia Power’s July 22 announcement on infrastructure and electric-service costs and demand response.
- Effect on interpretation
- Added payment and assurance terms to the next disclosures to monitor. No cost estimate is made; the 25-year demand-response term is not a capital-expenditure amortization period. Headline figures and unknown cash are unchanged.
Checked republication and valuation units
· Review
- Before
- The October 30 version had inconsistent units for the previous desired valuation; that comparison was excluded.
- After
- Updated the reference to the November 2 republication after checking its text. It covers the same October 30 report, not a new completed financing.
- Effect on interpretation
- Headline metrics, contract amounts and financial conclusions are unchanged. Desired valuations remain negotiation targets.
Quarterly counterparty disclosures and recovered article
· Addition
- Before
- Amazon full payment was unverified; Microsoft data covered June and the fiscal year. The October 30 article could not be retrieved again.
- After
- Added Amazon paid investment of USD 50 billion, Microsoft quarterly revenue of USD 10 billion and receivables of USD 7.2 billion. Microsoft cumulative funding is now USD 12 billion, versus USD 11.9 billion in June, within its USD 13 billion commitment. Rechecked the October 30 report.
- Effect on interpretation
- More completed funding is documented. Cash and gross margin remain unknown; negotiation targets remain unconfirmed.
Planned Amazon investment → Amazon paid-in investment → Microsoft quarterly revenue from OpenAI → Microsoft receivables from OpenAI → Microsoft cumulative funded investment → Microsoft cumulative investment commitment →
Audit of metric definitions and comparisons
· Correction
- Before
- Annual ARR figures were shown as bars, with continuity of definitions addressed only in a note.
- After
- Changed to source-specific observations. Lower bounds, approximate values and forecasts remain explicit in the data; cash balances are marked null. The three headline figures were unchanged.
- Effect on interpretation
- The presentation avoids implying unverified growth rates or cash runway.
Company-described ARR for 2023 → Company-described ARR for 2024 → Company-described ARR for 2025 → Annualized revenue run rate → Funding commitments → Post-money equity valuation → Current cash balance →
Added counterparty disclosures and the contract ledger
· Addition
- Before
- Coverage centered on total funding and projected cash outflows.
- After
- Added completed SoftBank payments, Microsoft financial statements, AWS contracts, CoreWeave regulatory disclosures and the scope of Stargate.
- Effect on interpretation
- Payments can be distinguished from commitments, totals from included amounts, and standalone obligations from joint plans.
SoftBank additional investment paid → Microsoft cumulative funded investment → Microsoft revenue related to OpenAI → Additional AWS service agreement → Additional CoreWeave order form → Stargate joint infrastructure plan →
- Final tranche of additional OpenAI investment completed — SoftBank Group · 2026-10-01
- Microsoft 2026 Annual Report — Microsoft · Publication date unverified
- Strategic partnership with Amazon — OpenAI · 2026-02-27
- CoreWeave FY2025 Form 10-K — CoreWeave · Publication date unverified
- Stargate project announcement — OpenAI · 2025-01-21
October 30 article could not be retrieved again; verification date retained
· Review
- Before
- A previously verified article on funding negotiations.
- After
- The text could not be retrieved again from multiple republishers during this review. Its verification date was not advanced and the headline metrics were not updated.
- Effect on interpretation
- Negotiation targets are not treated as completed funding amounts or established valuations.
Source register and verification status
Publication dates, reporting periods and actual document-review dates are distinct. Review timestamps are not advanced when a source cannot be retrieved again.
Revenue and computing-resource growth — OpenAI CFO
Company disclosure · Announcement
Verified at the recorded review
Published 2026-01-18 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Comparison of ARR and computing resources for 2023–2025; revenue-model explanation
Using the term ARR, the source reports USD 2 billion for 2023, USD 6 billion for 2024 and more than USD 20 billion for 2025. It describes subscriptions and APIs. The ARR formula is undisclosed.
Last retrieval attempt: 2026-10-31T15:29:43Z
Funding round and business metrics — OpenAI
Company disclosure · Announcement
Verified at the recorded review
Published 2026-03-31 · Document reviewed 2026-11-05T00:02:27Z
Source location and review notes
Uses the publication date stated in the document.
Location: Opening; Deep conviction across global capital; Leadership across consumer and enterprise
USD 122 billion in funding commitments and a USD 852 billion post-money valuation. The approximately USD 4.7 billion credit facility was undrawn at closing. Monthly revenue was USD 2 billion; enterprise revenue represented more than 40%.
Last retrieval attempt: 2026-11-05T00:02:27Z
Annualized revenue and funding negotiations — Reuters (distributed by Investing.com)
Media report · News report
Verified at the recorded review
Published 2026-10-19 · Document reviewed 2026-11-03T15:32:27Z
Source location and review notes
Uses the publication date stated in the document.
Location: TRYING TO HEAD OFF COMPARISONS
Sources familiar with the matter describe USD 50 billion in annualized revenue and a USD 70 billion year-end outlook. The report also discusses net revenue recognition after partner revenue sharing.
Last retrieval attempt: 2026-11-03T15:32:27Z
Reported reduction in funding target (negotiations) — Reuters / FT (distributed by Investing.com)
Media report · News report
Verified at the recorded review
Published 2026-11-02 · Document reviewed 2026-11-05T11:58:11Z
Source location and review notes
Redistributed November 2; the underlying report concerns October 30. This is not an announcement of a newly completed funding round.
Location: Opening of the redistributed article: funding target, desired valuation and expected first closing
Redistribution of the October 30 report of an approximately USD 20 billion funding target and USD 1.25 trillion desired valuation. The redistributed text describes the previous desired valuation as USD 1.4 trillion. Closing and payment are unverified.
Last retrieval attempt: 2026-11-05T11:58:11Z
Projected cash outflows for 2026–2030 — Reuters / FT (distributed by Investing.com)
Media report · News report
Verified at the recorded review
Published 2026-09-18 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Cumulative FCF and annual revenue forecasts in the article
Citing FT reporting based on company documents, the article reports forecasts of USD 278 billion in cumulative negative FCF and USD 36 billion in 2026 revenue. These are not actual results.
Last retrieval attempt: 2026-10-31T15:29:43Z
Strategic partnership with Amazon — OpenAI
Company disclosure · Announcement
Verified at the recorded review
Published 2026-02-27 · Document reviewed 2026-11-02T00:56:35Z
Source location and review notes
Uses the publication date stated in the document.
Location: Opening investment conditions; OpenAI to use Trainium compute
The USD 50 billion investment comprises an initial USD 15 billion and a conditional additional USD 35 billion. A further USD 100 billion over eight years is added to the existing AWS agreement.
Last retrieval attempt: 2026-11-02T00:56:35Z
Amazon explanation of its investment — Amazon
Counterparty disclosure · Announcement
Verified at the recorded review
Published 2026-02-27 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Text below the title and CEO interview
Amazon also describes a USD 50 billion investment and a multiyear strategic partnership. This source is not treated as proof of completed payment.
Last retrieval attempt: 2026-10-31T15:29:43Z
Multiyear agreement with AWS — OpenAI
Company disclosure · Announcement
Verified at the recorded review
Published 2025-11-03 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Contract description immediately after Key takeaways
USD 38 billion, seven-year computing-resource agreement. Its period is kept separate from the later additional agreement.
Last retrieval attempt: 2026-10-31T15:29:43Z
Final tranche of additional OpenAI investment completed — SoftBank Group
Counterparty disclosure · Announcement
Verified at the recorded review
Published 2026-10-01 · Document reviewed 2026-11-05T11:58:11Z
Source location and review notes
Uses the publication date stated in the document.
Location: First and second opening paragraphs
Explicitly confirms completion of the USD 30 billion additional investment for 2026. The final USD 10 billion is included. SoftBank’s own borrowing is not OpenAI’s borrowing.
Last retrieval attempt: 2026-11-05T11:58:11Z
Initial funding-round announcement — OpenAI
Company disclosure · Announcement
Verified at the recorded review
Published 2026-02-27 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Opening breakdown of investments
Announces USD 30 billion from SoftBank, USD 30 billion from NVIDIA and USD 50 billion from Amazon. These are included in the March round total and must not be added again.
Last retrieval attempt: 2026-10-31T15:29:43Z
New agreement with Microsoft — Microsoft
Counterparty disclosure · Announcement
Verified at the recorded review
Published 2025-10-28 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Azure purchase item under What has evolved
Explicitly states USD 250 billion in additional Azure purchases. Detailed payment periods and minimum purchase obligations could not be established from the text.
Last retrieval attempt: 2026-10-31T15:29:43Z
Updated Microsoft partnership terms — Microsoft
Counterparty disclosure · Announcement
Verified at the recorded review
Published 2026-04-27 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Bullet points describing the revised agreement
Revenue sharing from OpenAI to Microsoft continues through 2030, subject to an aggregate cap. Revenue sharing from Microsoft stops. The rate and cap amount are not established in the text.
Last retrieval attempt: 2026-10-31T15:29:43Z
Microsoft 2026 Annual Report — Microsoft
Counterparty disclosure · Financial report
Verified at the recorded review
Published Unverified · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
No publication date is stated in the text. Reviewed as financial statements for the year ended June 2026.
Location: Notes to Financial Statements: OpenAI / ASC 850 paragraph
USD 24.1 billion in OpenAI-related revenue and USD 6 billion in receivables. USD 11.9 billion funded out of a USD 13 billion investment commitment. These cannot be reinterpreted as OpenAI’s expenses or cash balance.
Last retrieval attempt: 2026-10-31T15:29:43Z
OpenAI agreement expanded by up to USD 6.5 billion — CoreWeave
Counterparty disclosure · Announcement
Verified at the recorded review
Published 2025-09-25 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Opening contract total and description of previous agreements
Contract value of up to approximately USD 22.4 billion includes the existing USD 11.9 billion and USD 4 billion agreements and the additional USD 6.5 billion. Do not add the total and its components.
Last retrieval attempt: 2026-10-31T15:29:43Z
CoreWeave FY2025 Form 10-K — CoreWeave
Counterparty disclosure · Regulatory filing
Verified at the recorded review
Published Unverified · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Publication date unverified. Signed March 2, 2026; reporting period ended December 2025.
Location: PDF p.20: customer concentration risk; p.146: signature
The September 2025 order form specifies up to approximately USD 6.5 billion, through May 31, 2031.
Last retrieval attempt: 2026-10-31T15:29:43Z
Stargate project announcement — OpenAI
Company disclosure · Announcement
Verified at the recorded review
Published 2025-01-21 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: Opening and explanation of investors and responsibilities
A USD 500 billion, four-year plan for the joint project as a whole. OpenAI has operational responsibility; SoftBank has financial responsibility. This is not standalone OpenAI debt.
Last retrieval attempt: 2026-10-31T15:29:43Z
Proposed infrastructure partnership with NVIDIA — Joint OpenAI / NVIDIA announcement
Company disclosure · Announcement
Verified at the recorded review
Published 2025-09-22 · Document reviewed 2026-10-31T15:29:43Z
Source location and review notes
Uses the publication date stated in the document.
Location: News and description of the letter of intent
Intent to invest up to USD 100 billion in stages, linked to infrastructure deployment. This is a letter of intent, not paid-in funding. Overlap with the 2026 investment is unverified.
Last retrieval attempt: 2026-10-31T15:29:43Z
Amazon September 2026 Form 10-Q — Amazon
Counterparty disclosure · Regulatory filing
Verified at the recorded review
Published 2026-10-29 · Document reviewed 2026-11-04T12:06:15Z
Source location and review notes
Form 10-Q signature date, consistent with the quarterly earnings release date.
Location: Notes to Financial Statements / Non-Marketable Investments / OpenAI; investing cash flows
USD 15 billion invested in the first quarter, USD 13.7 billion in the second and USD 21.3 billion in the third. A total of USD 50 billion invested by September 30.
Last retrieval attempt: 2026-11-04T12:06:15Z
Microsoft FY2027 Q1 Form 10-Q — Microsoft
Counterparty disclosure · Regulatory filing
Verified at the recorded review
Published 2026-10-28 · Document reviewed 2026-11-05T00:02:27Z
Source location and review notes
Form 10-Q signature date, consistent with the quarterly earnings release date.
Location: Note 1 / Investments / OpenAI: ASC 850 paragraph
USD 10 billion in revenue from OpenAI during July–September, including revenue sharing; USD 7.2 billion in accounts receivable at September 30. These are Microsoft’s accounting figures, not OpenAI cash outflows.
Last retrieval attempt: 2026-11-05T00:02:27Z
Grid Protectors: energy costs and grid flexibility — OpenAI
Company disclosure · Announcement
Verified at the recorded review
Published 2026-11-02 · Document reviewed 2026-11-04T12:06:15Z
Source location and review notes
Uses the date stated in the document, separate from the review date.
Location: A model in Georgia / Looking forward
OpenAI states it will pay all infrastructure and electric-service costs required for the planned Effingham campus. The nationwide initiative is developing location-specific arrangements; the campus is still in development.
Last retrieval attempt: 2026-11-04T12:06:15Z
Georgia Power: Effingham electricity and demand-response arrangements — Georgia Power
Counterparty disclosure · Announcement
Verified at the recorded review
Published 2026-07-22 · Document reviewed 2026-11-03T23:59:23Z
Source location and review notes
Uses the date stated in the document, separate from the review date.
Location: Body: full infrastructure and electric service costs / 25-year agreement
The utility describes OpenAI cost responsibility, long-term contracts and financial assurances, plus a 25-year demand-response agreement. Payment amounts, assurance amounts and electricity pricing are not disclosed.
Last retrieval attempt: 2026-11-03T23:59:23Z
Planned Pierre acquisition and closing conditions — OpenAI
Company disclosure · Announcement
Verified at the recorded review
Published 2026-11-04 · Document reviewed 2026-11-05T00:02:27Z
Source location and review notes
Document publication date, separate from the review date.
Location: Opening / Bringing the work together in Codex / Final paragraph
OpenAI announced a planned Pierre acquisition to strengthen Codex developer tools. Regulatory approvals and other closing conditions remain; the companies stay independent until closing. Consideration, payment method and revenue contribution are undisclosed.
Last retrieval attempt: 2026-11-05T00:02:27Z
Automated validation checks units, classifications, references, dates and overlap relationships. Claims still require comparison with the original text. Unknown amounts are not replaced with zero, and estimates are not treated as confirmed figures.
Source-linked data (JSON)This translates the saved research snapshot and does not claim that the original sources were checked again for this translation.