OpenAI’s revenue more than tripled to $5.7 billion in Q1, but its burn rate was staggering, with the company losing $21.3 billion. This comes as the company prepares for an IPO and faces competition from Anthropic. The high burn rate raises questions about OpenAI’s ability to sustain itself in the long term. Why it matters: As the AI landscape becomes increasingly competitive, OpenAI’s ability to balance growth with profitability will be crucial in determining its future success.