On November 30, according to news reports from the New Jiwon, data based on Microsoft News revealed that the number of people living in the country is still highOpenAI The cost of the reasoning is growing at a rate far above income, and could become the "fast-burning" technology company in history。
Data from 2024 Q1 to 2025 Q3 suggest that OpenAI ' s reasoning expenditure (i.e., the cost of the operational model to generate responses) grew explosively: in 2025, Q3 expenditure surged to $3.65 billion, compared with implied income of $2.06 billion for the same period. This means that for every dollar earned, OpenAI spends 1.8 US dollars on reasoning; in 2025, Q1's margin broke even 2.0, falling into a "solder and worse" cycle。
AT THE ANNUAL LEVEL, THE PROBLEM IS EVEN MORE ACUTE: THE REASONED EXPENDITURE FOR THE FIRST NINE MONTHS OF 2025 AMOUNTED TO US$ 86.77 BILLION, WHICH IS 2.3 TIMES MORE THAN IN 2024; INCOME INCREASED ONLY BY 751 TP3T OVER THE SAME PERIOD. THE LOSSES IN SEPTEMBER BEFORE 2025 AMOUNTED TO $4.34 BILLION, WELL OVER THE PREVIOUS YEAR。
More worryingly, the media overestimated OpenAI's revenue. In 2024, Microsoft's inverse income was $2.47 billion, while the media generally reported $3.7 to $4 billion; in 2025, the gap widened further, reaching $2 billion in the first half of the year alone. This means that there may be a systematic overestimation of the growth and commercialization of OpenAI。