OpenAI expects to spend nearly $280 billion more than it takes in by the end of 2030, underscoring its enormous funding needs as it enters new investment talks at a valuation above $1.2 trillion, the Financial Times (FT) reported Friday.
The AI company projects a $278 billion cash shortfall between 2026 and 2030 as it expands access to computing power, according to a recent presentation reviewed by the FT. That is lower than a $305 billion shortfall projected in May, it noted.
Revenue is projected to rise from $36 billion in 2026 to $350 billion in 2030, totaling $840 billion during the period. Spending on computing power and infrastructure, its largest expense, is expected to reach $856 billion.
OpenAI raised $122 billion in March, but the presentation suggests that the money would run out in 2028, according to the report.
OpenAI is valued at $852 billion and is asking investors for a price above $1.2 trillion, according to one person close to the company.
The report said OpenAI has cut prices to compete with rival Anthropic and cheaper open-weight models from China. Its annualized revenue rose about 20% in July following new model releases.
Chipmaker Nvidia, Oracle and SoftBank’s data center business rely heavily on OpenAI contracts, it added.
OpenAI had targeted an initial public offering in the fall, filing confidentially in June, but has deferred the process, citing public concern about AI risks. Some investors also point to fears about how markets would receive a heavily loss-making company, said the FT.
Anthropic is expected to go public in the fall.