Have AI Gross Margins Really Turned the Corner? The Real Math Behind OpenAI’s 70% Compute Margin — And Why B2B Startups Are Still Running on a Treadmill

Have AI Gross Margins Really Turned the Corner? The Real Math Behind OpenAI’s 70% Compute Margin — And Why B2B Startups Are Still Running on a Treadmill

OpenAI (or at least, The Information reporting on OpenAI) just dropped a bombshell: their “compute margin” — the share of revenue left after paying for the massive server costs to run ChatGPT — hit 70% in October 2025. In January 2024, that number was 35%....
OpenAI Has Gone From a 6-Month Cliff to… No Cliff At All. And Will “Spend” $6 Billion This Year On Employee Equity. Even at OpenAI, The War for Talent Never Ends.

OpenAI Has Gone From a 6-Month Cliff to… No Cliff At All. And Will “Spend” $6 Billion This Year On Employee Equity. Even at OpenAI, The War for Talent Never Ends.

Per @WSJ, OpenAI has gone from just a 6 month cliff for equity vesting now to … no cliff at all And will “spend” $6 Billion this year on employee equity Even at OpenAI, the war for talent never ends pic.twitter.com/uOw6ReBXCF — Jason ✨👾SaaStr.Ai✨ Lemkin...

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