Microsoft took $10B from OpenAI in a single quarter

Microsoft booked $10 billion in revenue from its commercial arrangements with OpenAI in the quarter ended September 30, according to Microsoft’s quarterly filing released on October 28. That figure combines revenue-sharing payments and Azure cloud services in a proportion that isn’t public, so it doesn’t measure the revenue share alone. It still comes to nearly 11% of Microsoft’s $92.3 billion in revenue for the quarter.

The quarter is the first of Microsoft’s fiscal 2027, because its financial year starts in July. Across all of fiscal 2026, revenue from OpenAI came to $24.1 billion, so this one quarter already equals more than 40% of last year’s total. At the latest quarterly pace, OpenAI-related arrangements would bring Microsoft $40 billion a year. The filing also lists $7.2 billion in receivables from OpenAI at the end of September, up from $6 billion at the end of June. Receivables are money OpenAI owes for earlier transactions and don’t add to revenue.

Comparisons with the earlier figure need care. In November 2025, TechCrunch reported from leaked documents that Microsoft had received $865.8 million in net revenue-sharing payments from OpenAI during the first nine months of that year. That number counted only net revenue share, while today’s $10 billion also includes Azure, so the two can’t be compared directly. OpenAI is reported to share 20% of its revenue with Microsoft under the earlier deal in which Microsoft invested more than $13 billion. Neither company has publicly confirmed that percentage.

The terms behind the payments have changed twice in a year. In October 2025, Microsoft gave up its hold on OpenAI’s cloud choices, and in exchange OpenAI committed to buy an additional $250 billion of Azure services. Under the April 2026 agreement, OpenAI can serve customers on competing clouds but keeps sharing revenue with Microsoft through 2030, up to a cap. Microsoft has stopped paying a revenue share to OpenAI.

Microsoft’s stake has been shrinking at the same time. It was roughly 27% after the October 2025 recapitalization, about 25% in June and 24% at the end of September.