# OpenAI收入仅增18%至67亿美元，亏损扩大至123亿美元，暂停前沿训练被质疑为IPO铺路，公司面临瓦解风险 - 来源：Gary Marcus - 发布时间：2026-08-19 14:43 - AIWatch 分数：53 - AIWatch 标记：未精选 - AIWatch 链接：https://aiwatch.icu/events/evt_01m0cfzv5cdy8jnb27jq2h3vzq - 原文链接：https://garymarcus.substack.com/p/breaking-openais-unraveling-has-begun ## 精选理由 常规快讯，保留列表 ## AI 摘要 OpenAI收入仅增18%至67亿美元，亏损扩大至123亿美元，暂停前沿训练被质疑为IPO铺路，公司面临瓦解风险。 ## 正文 The opening stages of OpenAI’s unraveling, which I first warned about in January 2024 (if not before), have begun. To begin with, hardly anyone trusts them anymore, which can’t be great for business. Take the reaction to OpenAIs Sam Altman’s latest announcement, on Tuesday August 18 (i.e., “earlier today” for those of us on the West Coast), that OpenAI would be pausing, ostensibly for safety reasoning: X avatar for @sama Sam Altman@sama We have paused some frontier RL training to ensure that we can meet the appropriate alignment, security and monitoring standards for the new level of capabilities in front of us. Model progress is now extremely rapid, and we always said we would take action if we felt that model 6:53 PM · Aug 18, 2026 · 173K Views 352 Replies · 108 Reposts · 1.48K Likes As far as I can tell, hardly anyone believed him. X avatar for @justalexoki taoki@justalexoki there's no way this is the real reason right X avatar for @sama Sam Altman @sama We have paused some frontier RL training to ensure that we can meet the appropriate alignment, security and monitoring standards for the new level of capabilities in front of us. Model progress is now extremely rapid, and we always said we would take action if we felt that model 7:44 PM · Aug 18, 2026 · 60K Views 52 Replies · 5 Reposts · 616 Likes The best one line translation came from the user @NIK on X: Slightly elaborated: X avatar for @Ross__Hendricks Ross Hendricks@Ross__Hendricks Translation: we need to immediately stop torching cash to provide some semblance of a sustainable business model so we can rush this IPO out the door before the bubble pops RIP “compute shortage/AI bottleneck” bros X avatar for @sama Sam Altman @sama We have paused some frontier RL training to ensure that we can meet the appropriate alignment, security and monitoring standards for the new level of capabilities in front of us. Model progress is now extremely rapid, and we always said we would take action if we felt that model 7:50 PM · Aug 18, 2026 · 13.3K Views 6 Replies · 38 Reposts · 326 Likes And, here’s where things get worse. It turns out people were very likely right to be skeptical, because The Wall Street Journal’s Berber Jin and Corrie Dribusch just dropped big news: X avatar for @berber_jin1 Berber Jin@berber_jin1 openai has been tossing out a lot of vague ARR numbers, so we decided to take a deeper look. the company grew revenue by just 18% to $6.7 billion from q1 to q2, while its losses sank further into the red not a great sign ahead of an IPO w/ @cdriebusch via @WSJ 10:37 PM · Aug 18, 2026 · 220K Views 35 Replies · 83 Reposts · 583 Likes and then an hour and half later, Jin dropped still further details, also bad for OpenAI: X avatar for @berber_jin1 Berber Jin@berber_jin1 @cdriebusch @WSJ story is now updated with additional details. openai's losses grew by $3 billion from q1 to q2, to $12.3 billion not a great look given that it added only $1 billion in revenue in the meantime, to $6.7 billion 11:54 PM · Aug 18, 2026 · 58.6K Views 2 Replies · 9 Reposts · 116 Likes You don’t want your quarterly losses to quadruple right before your IPO. § It’s safe to say all this is good news for Anthropic: X avatar for @WSJ The Wall Street Journal@WSJ OpenAI's revenue grew much slower than Anthropic's last quarter, disappointing investors who hoped the ChatGPT maker would start to catch up to its rival on.wsj.com/4zo2o8y 10:52 PM · Aug 18, 2026 · 144K Views 25 Replies · 22 Reposts · 130 Likes And terrible news for OpenAI. § Small wonder Nvidia was trying to cover its bets earlier this week: X avatar for @GaryMarcus Gary Marcus@GaryMarcus Not exactly a vote of confidence in OpenAI. Scoop from @anissagardizy8 X avatar for @anissagardizy8 Anissa Gardizy @anissagardizy8 SCOOP: We have the details behind one of the largest data center transactions in history. Our story includes the size and complex mechanics behind Nvidia’s financial guarantee—which has been a sensitive point in recent weeks. Spoiler: Nvidia will be the exclusive hardware 4:28 PM · Aug 17, 2026 · 8.85K Views 6 Replies · 22 Reposts · 97 Likes Still, as Ed Zitron and I have both long noted, if OpenAI goes down the damage could spread: In short, things could well get wild, very soon. Share No posts