Money
Zitron claims OpenAI drove most of Microsoft Intelligent Cloud growth in 2025
Tom Bilyeu Impact Theory
Wall Street Analysts Are Comparing This To Enron — We Had To React
"In calendar year 2025, according to my own reporting about OpenAI's numbers, 69% of the yearover-year growth of Microsoft intelligent cloud segment was actually from OpenAI. Without that, it would have only grown 8% year-over-year, which is barely beating inflation."
Ed Zitron claims that, based on his reporting on OpenAI’s finances, OpenAI accounted for 69% of the year-on-year growth in Microsoft’s Intelligent Cloud segment in 2025, and that excluding OpenAI the segment would have grown 8%. He frames this as evidence that parts of the AI revenue story are more dependent on a single counterparty than widely understood.
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Tom Bilyeu Impact Theory