OpenAI projects $278 billion cash burn through 2030 on $856 billion compute spend

OpenAI expects cumulative negative free cash flow of $278 billion from 2026 to 2030, according to an investor presentation seen by the Financial Times. Revenue is projected to grow from $36 billion in 2026 to $350 billion in 2030, while compute and infrastructure spending reaches $856 billion. The company, valued at $852 billion, is discussing a new round at up to $1.2 trillion.

• Total revenue for 2026–2030 projected at $840 billion
• Compute and infrastructure spending seen at $856 billion
• Cumulative negative free cash flow of $278 billion
• Valued at $852 billion; new round discussed at $1.2 trillion