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OpenAI’s $34 billion spending surge
OpenAI reportedly spent $34 billion in 2025 as it expanded computing capacity, developed new models and prepared for a possible IPO. Figures reported by the Financial Times and covered by Reuters suggest around $19 billion went towards research and development, while nearly $6 billion was spent on sales and marketing.
For investors, the main question is where that money is going. The spending could support chips, cloud computing and data-centre infrastructure, while increasing pressure on smaller AI companies and software businesses.
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The skinny
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