Microsoft reports $24.1 billion revenue from OpenAI, its largest AI customer
Microsoft’s fiscal 2026 filing shows the company booked $24.1 billion of revenue from its commercial relationship with OpenAI, accounting for about 7% of Microsoft’s total $331.8 billion revenue for the year. The filing also notes that OpenAI owed Microsoft $6.0 billion as of June 30. Azure, Microsoft’s cloud platform, surpassed $100 billion in revenue, with OpenAI’s arrangements representing…
Key points
- Microsoft booked $24.1 billion of revenue from OpenAI in fiscal 2026, about 7% of its $331.8 billion total revenue.
- OpenAI’s commitment adds $250 billion of Azure services, contributing to Microsoft’s $678 billion commercial backlog, up 84% YoY.
- OpenAI burned $3.7 billion in Q1 2026 and projects $280 billion cash burn through 2030, posing a spending risk for Microsoft.
The company’s commercial backlog grew to $678 billion, an 84% year‑over‑year increase, and most of that growth stems from OpenAI’s commitment in October to purchase an additional $250 billion of Azure services. Microsoft now holds about 27% of OpenAI, a stake it valued at roughly $135 billion. OpenAI burned $3.7 billion in the first quarter of 2026 and, according to the Financial Times, expects to burn almost $280 billion of cash between 2026 and 2030. If that spending slows, Azure’s growth and Microsoft’s future revenue could be impacted, making the partnership both a major driver and a potential risk.
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2 episodes →- Microsoft reports $24.1 billion revenue from OpenAI, its largest AI customerthis story
Microsoft's Biggest AI Customer Is Also Its Biggest Risk
fool.com · 21 September 2026
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