OpenAI Lost $20.92B in 2025 on $13.07B Revenue — Cheap Tokens Are Priced at a Loss
AlexTensor · x · 2026-09-18
A widely shared post does the math on OpenAI's 2025 finances: $20.92 billion in operating losses on $13.07 billion of revenue. That, the author argues, is the simpler reason tokens are so cheap — pricing is far below cost. "Nobody prices at a loss forever. The question is what they're collecting instead of money."
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