OpenAI ties bring Microsoft $10 billion a quarter, about 11% of sales

Microsoft's financial tie to OpenAI now shows up as a clear line in its accounts. The company's regulatory filing shows $10 billion from its commercial arrangements with OpenAI, including revenue-sharing payments, in the quarter ended 30 September 2026. That is about 11% of Microsoft's $92.3 billion total quarterly revenue, according to TechCrunch, which reported the figures.

The scale is growing. OpenAI-related revenue totalled $24.1 billion across fiscal 2026, and the latest quarter's pace implies roughly $40 billion a year. Microsoft also reported that OpenAI owed it $7.2 billion at the end of September, up from $6 billion at the end of June. TechCrunch notes that this balance covers past transactions, not new revenue.

The terms have changed twice in a year. In October 2025, Microsoft gave up its exclusive hold on OpenAI, and OpenAI committed to buying an additional $250 billion in Azure services. An April 2026 agreement has OpenAI sharing revenue with Microsoft through 2030, subject to a cap, and lets OpenAI work with competing cloud providers.

Microsoft's ownership stake in OpenAI fell from about 25% in June to 24% in September. The company did not say what caused the dilution. The two firms increasingly compete for the same customers, even as their financial ties remain large.

Key details are still missing. TechCrunch did not split the $10 billion between revenue sharing and Azure cloud services, and said it had asked for more information. A reported 20% revenue share to Microsoft has not been confirmed by either company.

For now the numbers favour Microsoft. A steady income stream of this size, with revenue sharing running to 2030, gives it a return on an investment that has been diluted, not abandoned. The exposure runs the other way as well. If OpenAI wins more customers through other cloud providers, the Azure commitment and the revenue cap become the terms that decide how much of that growth Microsoft keeps.

Three things to watch. First, whether the split between revenue sharing and cloud spending is disclosed. Second, whether the stake keeps falling in the next filing. Third, whether the $7.2 billion balance is paid down. A growing unpaid balance would point to strain. A shrinking one would suggest the money is moving as agreed.