"OpenAI is losing about three times more money than it's earning, and 95 percent of those using ChatGPT, which generates roughly 70 percent of the company's recurring revenue, aren't paying a dime to help stem the losses. For this level of success, the company is reportedly valued at about $500 billion, even as it commits to spending more than $1 trillion that it doesn't have in partnership deals over the next five years."
"According to a report published last month in The Information, OpenAI during the first half of 2025 collected $4.3 billion in revenue while still posting a net loss of $13.5 billion during that six month period. More than half of that loss is attributable to "remeasurement of convertible interest rights," which The Information suggests is a reference to billions of dollars' worth of convertible equity issued to investors."
"About 70 percent of OpenAI's recurring revenue reportedly comes from those paying for ChatGPT subscriptions ( Free, $20/month, $200/month). But of ChatGPT's 800 million users, just 5 percent pay, according to a senior executive who spoke to the Financial Times. Menlo Ventures came to a similar estimate based on a $10 billion annual run rate and about 800 million monthly active users - about 40 million would be paying $20 per month to generate that much revenue."
OpenAI collected $4.3 billion in revenue during the first half of 2025 and posted a net loss of $13.5 billion for that period. More than half of the loss stemmed from remeasurement of convertible interest rights tied to convertible equity obligations. Operating losses for the period approached $8 billion while the company books about $13 billion in annual recurring revenue. Roughly 70 percent of recurring revenue comes from ChatGPT subscriptions, yet only about 5 percent of ChatGPT's 800 million users pay. The company has an approximate $500 billion valuation and has committed over $1 trillion in partnership spending over five years.
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