OpenAI Expects $278 Billion in Negative Cash Flow Over Five Years

A presentation obtained by the Financial Times shows that US AI company OpenAI expects to generate $278 billion in negative free cash flow from 2026 to 2030, while planning to spend about $856 billion on computing power and infrastructure during the same period.

On revenue, OpenAI estimates $36 billion in 2026, rising to $350 billion by 2030, with cumulative revenue of about $840 billion over five years. But spending is growing faster, with AI infrastructure alone requiring $856 billion, leaving a significant funding gap.

To compete with open-weight models and rivals like Anthropic, OpenAI also needs to cut prices on some products, further affecting revenue. The $122 billion raised in March 2026 is expected to run out by 2028, and the company is now in talks for a new large funding round, with investors having discussed a $1.2 trillion valuation.