OpenAI Misses 1B Weekly Users and Multiple Revenue Targets
What Happened
Internal documents show OpenAI did not hit its end-of-2025 target of 1 billion weekly active ChatGPT users and underperformed on several early-2026 monthly revenue benchmarks. CFO Sarah Friar reportedly raised concerns to the board about whether the company can sustain massive infrastructure commitments if growth keeps slowing.
My Take
This is the most important line item in AI right now and almost nobody is pricing it correctly. The entire sector's capex thesis assumes OpenAI's revenue curve keeps bending up and to the right. If consumer ChatGPT growth has hit saturation, the business has to be carried by enterprise and API — both fiercely competitive. The Microsoft restructuring suddenly looks less like strategic flexibility and more like both sides hedging the same bet. Expect tighter pricing across the board within 90 days.
Read Original Source