OpenAI tripled revenue to $5.7 billion in Q1 but burned through $3.7 billion to get there
In the first quarter of 2026, OpenAI pulled in $5.7 billion in revenue and burned through about $3.7 billion, both figures tripled year over year. Stock-based compensation alone ate up over $2.3 billion.
With $73 billion in reserves, OpenAI doesn’t need fresh capital right now, but a price war with Anthropic could change that fast.
