OpenAI reportedly missed revenue and user growth targets

OpenAI reportedly missed its revenue and user growth targets in 2025, according to a report by The Wall Street Journal cited by Mobile World Live. The report said the slowdown raised concerns about OpenAI’s ability to fund large compute and data centre commitments as the company is also rumoured to be considering an initial public offering later this year.

The Wall Street Journal reported CFO Sarah Friar privately raised concerns about OpenAI’s capacity to cover future compute agreements if the revenue slowdown persists. The report also said Friar is working with executives to tighten spending and that OpenAI’s board is taking a closer look at the company’s computing deals. In a joint statement to CNBC, CEO Sam Altman and Friar reportedly called the claims “ridiculous” and said OpenAI’s compute purchasing strategy remained on track.

OpenAI’s reported revenue miss comes as the company continues to raise and deploy large amounts of capital for AI infrastructure. Mobile World Live said OpenAI secured $122 billion in fresh capital in March, lifting its valuation to $852 billion, with SoftBank Group co-leading the round and Amazon, Nvidia and Microsoft participating. The report also said Nvidia finalised a $30 billion investment in OpenAI earlier in 2025, that OpenAI ended an exclusivity agreement with Microsoft this week, and that Microsoft has invested more than $13 billion in OpenAI since 2019. Microsoft also recently agreed to rent data centre capacity in Norway that had originally been allocated to OpenAI’s Stargate initiative.