Bank of America analysts say OpenAI's sharply higher revenue and spending projections point to a significantly larger demand environment for artificial intelligence, with major implications for large internet and cloud platforms. Citing reports on the company's fundraising materials, BofA analyst Justin Post said OpenAI now targets $283 billion revenue by 2030, alongside cumulative compute spending of ~$665 billion through 2030.

The projections strengthen the AI demand thesis and suggest a larger AI-driven revenue pool across ads, commerce, and productivity, according to Post. However, the analyst also highlighted profitability pressures, noting reports that inference costs quadrupled in 2025, driving more compute purchases and contributing to a decline in gross margin to 33% in 2025, from 40% in 2024.

BofA stated that OpenAI's consumer business could become a major advertising player by the end of the decade, with potential for ~$45 billion-$75 billion in ad revenue by 2030. This could equate to a 1-2% annual sector revenue headwind for Alphabet, Meta, and Amazon. On the infrastructure side, the bank said OpenAI's pivot back to a partner-led model for its large-scale compute build-out creates further opportunity for hyperscalers, with incremental opportunities for Google and Amazon to provide OpenAI with capacity.