OpenAI burned US$3.7 billion in the first quarter of 2026 while posting US$5.7 billion in revenue, according to documents it shared with shareholders.

The figures could not be independently verified.

Earlier in June, OpenAI said it had confidentially filed for a US initial public offering.

A source said the listing could come as early as September and value the company at up to US$1 trillion.

The quarter followed earlier growth reports. In March, OpenAI had topped US$25 billion in annualized revenue in February.

On funding, SoftBank Group said it completed an additional US$22.5 billion investment in December 2025 as part of a commitment of up to US$40 billion.

Third-party co-investors brought the total commitment to US$41 billion.

🔗 Source: Reuters

Recent OpenAI developments