Microsoft disclosed in a regulatory filing on Wednesday that it earned $10 billion in revenue from commercial arrangements with OpenAI—including revenue-sharing payments—during the quarter ended September 30. That figure accounts for nearly 11% of Microsoft's total quarterly revenue of $92.3 billion, underscoring the massive financial entanglement that persists between the two firms even as they increasingly vie for the same customers. (Microsoft's fiscal year starts in July, so the quarter ended September 30, 2026 is the first quarter of its fiscal 2027.)

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For the full 2026 fiscal year, OpenAI-related revenue reached $24.1 billion. At its most recent quarterly pace, Microsoft would collect $40 billion annually from OpenAI-related arrangements. Microsoft also reported $7.2 billion in outstanding receivables from OpenAI at the end of September, up from $6 billion at the end of June. That money represents amounts OpenAI owes for previous transactions, not additional revenue. It's unclear how much of Microsoft's OpenAI revenue stemmed from revenue-sharing payments versus Azure cloud computing services. [The filing showed $8 million?] in net revenue-sharing payments from OpenAI during the first nine months of that year. OpenAI reportedly shares 20% of its revenue with Microsoft under a prior deal in which the software giant invested more than $13 billion in the AI startup. (Neither the AI lab nor Microsoft has publicly confirmed this percentage.)

Under an April 2026 agreement, OpenAI is obligated to keep sharing revenue with Microsoft through 2030, subject to a cap, even as OpenAI is permitted to work with competing cloud providers. The two companies began loosening the bonds of their once-exclusive partnership in October 2025, when Microsoft relinquished its hold on OpenAI to give the startup more freedom to partner with other cloud providers. In exchange, OpenAI committed to purchasing an additional $250 billion in Azure services as part of an October 2025 agreement. Microsoft's ownership stake in OpenAI has also slipped slightly, from about 25% in June to 24% in September. That extends a gradual decline from roughly 27% following the October 2025 recapitalization. Microsoft did not specify what caused the dilution.