OpenAI expects nearly $280 billion in negative free cash flow through 2030 as spending on computing power and infrastructure outpaces rapid revenue growth. Internal documents project annual revenue will rise from $36 billion this year to $350 billion in 2030, producing total revenue of about $840 billion over the period, while cumulative compute and infrastructure costs reach approximately $856 billion. The company’s $122 billion financing completed in March could be depleted by 2028 at current burn rates. OpenAI has entered early-stage talks for another funding round, with some investors proposing a $1.2 trillion valuation, about 41% above its current $852 billion assessment. The company has also paused an IPO originally planned for this fall while it prioritizes additional private capital. OpenAI has cut prices amid competition from Anthropic and lower-cost open-weight models from China, while its annualized revenue rose about 20% in July after new model releases.