유출 재무 문서: OpenAI, 매년 수십억 달러 손실

OpenAI's leaked financials expose a critical imbalance: while revenue surged 253% to $13.07B in 2025, R&D spending ($19.18B) and operating losses ($20.92B) are accelerating faster, threatening the promised 2030 profitability. The combination of soaring model training costs, enterprise customer price resistance, and intensifying competition from Anthropic underscores that current AI scaling economics may be fundamentally unsustainable. This raises urgent questions about whether the industry's growth narrative can survive the harsh economics of its cost structure.