BREAKING
45% of OpenAI Costs to Related Parties
0
%
of total costs
0
%
of cost of revenue
0
M
related-party revenue
0
B
Q1 revenue
0
B
cash burn
0
M
stock for compute
Microsoft Wears Three Hats
Investor & Supplier
~27% stake
●
Over $13B committed
●
Compute via Azure
●
Revenue share on Bing
2025 Payments
$17.2B
●
$10.59B in R&D
●
$6.047B cost of revenue
●
Losses booked via equity method
Gross Revenue vs Real Economics
$600B Compute Spend by 2030
AI NEWS BLITZ
A new report says nearly half of OpenAI's quarterly costs flowed to related parties.