Multiple reports say OpenAI spent $34 billion in 2025 as it prepares for a planned initial public offering. The figure is attributed to audited financial information reported by the Financial Times. The spending is described as reflecting the scale of costs involved in developing frontier AI models and expanding supporting operations. Business Line and the Financial Times report that the spending includes about $19 billion on research and development, and nearly $6 billion on sales and marketing. Other reported categories include additional operating costs associated with running and scaling products and services. Separately, one report cited by Seeking Alpha says OpenAI spending in the first quarter reached $3.7 billion, which it characterizes as more than half of the company’s revenue for that period. Overall, the coverage links the high level of expenditure to continued investment in model development and infrastructure, as well as rapid commercial expansion, ahead of a potential IPO. The reports present the spending figures as a key indicator of the company’s burn rate and preparation for a major public listing.