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%....

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