For every dollar the company earns, it loses $1.22. Its gross margin is falling, not rising, as revenue grows. HSBC estimates it needs another $207 billion in capital by 2030.
“OpenAI targets a $1 trillion+ IPO valuation despite losing approximately $1.22 for every $1 in revenue.”
OpenAI (per pre-S-1 reporting, confidential filing June 2026)
Recorded 18 August 2026. Our ruling means: literally true, materially misleading.
First membership: 30 days free, then A$89 a year. One introductory trial per customer. Card required; renews annually until cancelled. Cancel before the trial ends to avoid the first charge.
Free · one story a night
Don't take the AI industry's word for it.
“AI is dramatically accelerating AI research at Anthropic right now, roughly doubling the pace of capabilities progress.”
TRUE, BUTLab Not FieldAjeya Cotra on Planned Obsolescence, reading METR's assessment and Anthropic's S-1 statement that it may imminently meet its own threshold
That's the latest lead check. One a day, receipts attached, in your inbox before someone repeats it at you. Free.
No spam. Unsubscribe in one click. Receipts or it didn't happen.
Pranjal Gupta writes every check himself. Former enterprise architect, from the implementation side. Not a team of anonymous raters.
