OpenAI seeks a $1.2T-plus valuation while projecting $278B cash burn

Its five-year plan pairs $840B in revenue with $856B in compute spending, leaving investors to finance the gap.

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Primary source: Financial Times

Why it matters

OpenAI's plan makes private capital a core production input. Its burn forecast also transfers risk to the chip, cloud and data-center companies counting on its contracts.

An expansive, modern data center with rows of illuminated server racks, some emitting a subtle reddish glow.

OpenAI expects to generate negative free cash flow of $278 billion from 2026 through 2030 as its infrastructure bill outpaces even its aggressive revenue targets, the Financial Times reported on September 18th, citing a recent presentation prepared for investors.…

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