Fortune: OpenAI's Trillion-Dollar IPO Filing May Finally Answer the Big Questions — $14B 2026 Loss, $665B Before Profitable

Fortune·medium signal

Fortune's May 22 analysis highlights the critical unknowns that OpenAI's IPO filing must address: internal forecasts project $14 billion in losses for 2026 alone and a staggering $665 billion in cumulative cash burn before reaching profitability in 2030. The filing must also clarify the governance structure after the recent capped-profit to for-profit conversion and the terms of the Microsoft partnership renegotiation.