OpenAI told investors in February its compute target was around $600bn by 2030. A July presentation puts the compute and infrastructure target at $856bn. The same deck projects negative free cash flow of $278bn between 2026 and 2030. That is an improvement from a May projection of $305bn. The deck also projects revenue of $350bn in 2030. Revenue this year is roughly $36bn. The spending rise and burn fall can coexist because partners finance much of the build. OpenAI raised $122bn in March at an $852bn valuation. The FT reports it is on track to exhaust that by 2028. The projection period runs two years beyond the money.

• $600bn compute target in February
• $856bn compute target in July
• $278bn projected cash burn
• $305bn earlier burn projection