OpenAI plans to spend $856 billion on compute and infrastructure over the next several years to expand its capacity for training and inference. A leaked internal presentation shows negative free cash flow of $278 billion from 2026 through 2030, with revenue climbing from $36 billion this year to $350 billion by the end of the decade in company forecasts. Total revenue for the period reaches approximately $840 billion, but the $122 billion cash raise from March runs out by 2028.

Annualized revenue topped $40 billion in July, though aggressive price cuts and compute spending have increased the urgency for new private financing. The $278 billion burn estimate is lower than the $305 billion projection from May. Current discussions with investors revolve around a new funding round at a $1.2 trillion valuation, while Nvidia has launched a $500 billion third party capital platform to help frontier labs finance hardware.