How OpenAI uses complex and circular deals to fuel its multibillion-dollar rise

Edit: the following is incorrect. I didn't know that the change to IRC § 174 was cancelled this summer.

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What's crazy is that with the 2021 changes to IRC § 174 most software r&d spending is considered capital investment and can't be immediately expensed. Has to be amortized over 5 years.

I don't know how that 11.5B number was derived, but I would wager that the net loss on income statement is a lot lower than the net negative cash flow on cash flow statement.

If that 11.5B is net profit/loss, then whatever the portion of the expense part of the calculation that's software R&D could be 5x larger if it weren't for the new amortization rule.