才曝出因为缺钱而上广告的OpenAI，最新小账本多少有点预期违背了。 至少单从收入上来看，还真不算少—— Anyway，就在人们热烈讨论OpenAI的收入情况时，这家公司的首款硬件也有新消息释出了—— 一位OpenAI高管表示，其首款设备很有可能在2026下半年推出。 以上，来自OpenAI首席财务官最新发布的一份公告。 网友们纷纷疑惑，所以OpenAI现在为啥要整广告这种"万人唾弃"的活儿？ 对此，有人也抛出了一个清晰的答案：虽然赚得多，但奈何烧得也多啊…… 算力收入通通涨10倍，但挣得多烧得也多… 年化经常性收入（ARR）已经从两年前的20亿美元暴涨至200亿美元。 关于算力和收入之间的逻辑，OpenAI明确提到： 而且收入还和算力同步猛涨：从2023~2025年，算力增长9.5倍、收入增长了10倍。 算力投资推动研究和模型能力跃升，强大的模型带来更好的产品和更广泛的采用，进而推动收入增长，收入再支撑下一轮算力投入和创新。这 个循环不断强化。 2024年：算力0.6GW，ARR 60亿美元 2025年：算力1.9GW，ARR超过200亿美元 光看一家你可能没概念，那如果把OpenAI和它的"老对手"（Cl ...

Core Viewpoint - OpenAI's revenue has significantly increased, with annual recurring revenue (ARR) rising from $2 billion to $20 billion over two years, indicating a strong growth trajectory despite high operational costs [2][12]. Revenue and Growth - OpenAI's ARR has surged to $20 billion, reflecting a tenfold increase in revenue projected from 2023 to 2025, alongside a 9.5-fold increase in computing power [2][13]. - The relationship between computing power and revenue is emphasized, where increased investment in computing drives research and model capabilities, leading to higher revenue, which in turn supports further investment [9][12]. Comparison with Competitors - In comparison to a competitor (Claude's parent company), OpenAI's computing power and ARR are significantly larger, with projections showing a growth from 0.2 GW and $2 billion in 2023 to 1.9 GW and over $20 billion by 2025 [14][17]. Operational Costs - OpenAI's operational costs are substantial, with an estimated $7 billion spent on computing resources in 2024, primarily through cloud services from Microsoft [21][22]. - The company is also investing heavily in building its own AI data centers, indicating a long-term strategy to manage costs and enhance capabilities [18][19]. Business Model and Future Plans - OpenAI's business model is evolving, with the introduction of advertising aimed at providing decision support in commercial scenarios, alongside subscription services and API usage [27][30]. - The company plans to launch its first hardware product in the second half of 2026, which is expected to further integrate into its revenue-computing cycle [33][34].