According to audited financial data disclosed by insiders, the global generative AI giant OpenAI spent a total of $34 billion in the past year, with R&D expenses amounting to approximately $19 billion and sales, marketing, and other operational costs nearing $6 billion. Despite the huge expenses, various capitals continue to finance its high operational and technological iteration costs. The company is currently advancing its initial public offering (IPO) plan, and the market generally expects its overall valuation to exceed $1 trillion after the listing.

OpenAI, ChatGPT, artificial intelligence, AI

As a leader in the large model field, OpenAI's financial data directly reflects the high capital barriers in cutting-edge AI technology development. After excluding non-cash accounting expenses caused by corporate restructuring and revaluation of investor convertible gains, its computing power costs and talent-intensive R&D still accounted for the core proportion of expenditures.

Against the backdrop of global computing power resource shortages and fierce competition in multimodal models, this "high investment, high valuation" model has become the norm for leading AI companies. As OpenAI accelerates its transition from non-profit to a more commercially scalable structure, and secretly submits its IPO application to regulatory authorities, this AI arms race driven by deep capital investment is entering its second half. This sprint toward a $1 trillion market value is not only a key milestone in its commercialization, but will also directly determine the valuation ceiling of the entire general artificial intelligence (AGI) sector, triggering structural fluctuations in the global technology capital market.