OpenAI Burned $38.5 Billion in 2025. I Ship on Their API, So I Read the Whole Leak.
中文摘要
OpenAI 2025年支出达385亿美元。泄露文件揭示，除了巨额亏损，其财务细节中隐藏着比标题数字更重要的信息。
English Summary
Leaked filings show OpenAI spent $38.5 billion in 2025. Beyond the massive burn rate, the report contains significant insights analyzed by a developer using their API.
Original Excerpt
The headline number is the least interesting thing in the filing. Continue reading on Level Up Coding »