"nevertheless calculates that the company faces an extraordinary financial mountain if it is to deliver on its ambitions. HSBC Global Investment Research projects that OpenAI still won't be profitable by 2030, even though its consumer base will grow by that point to comprise some 44% of the world's adult population (up from 10% in 2025). Beyond that, it will need at least another $207 billion of compute to keep up with its growth plans."
"The question remains about how OpenAI will balance ChatGPT's seemingly endless desire, on the one hand, for "compute," provided by data centers sprouting throughout the economy, with a business model that takes it from the red into the black. This is the same question that OpenAI CEO Sam Altman answered in a single exasperated word in a recent podcast appearance: " Enough.""
OpenAI remains privately held and unprofitable despite ChatGPT's success and Nvidia's strong performance. ChatGPT's growth is driving enormous demand for compute delivered by widespread data centers. HSBC projects OpenAI will still not be profitable by 2030 and estimates the company will need at least $207 billion more in compute to meet its growth plans. HSBC forecasts that OpenAI's consumer base could reach 44% of the world's adults by 2030, up from 10% in 2025. Multi-year cloud commitments include a $250 billion deal with Microsoft and $38 billion with Amazon, made without new capital injections.
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