Microsoft disclosed in a regulatory filing Wednesday that it generated $10 billion in revenue from commercial arrangements with OpenAI in the quarter ended September 30, 2026, nearly 11% of its $92.3 billion total quarterly revenue. In the full 2026 fiscal year, revenue from OpenAI was $24.1 billion; at the latest quarter’s pace, Microsoft would take in roughly $40 billion annually from OpenAI-related arrangements. The company also reported $7.2 billion in outstanding receivables from OpenAI at the end of September, up from $6 billion at the end of June, representing amounts owed for prior transactions rather than new revenue. The filing does not break out how much of the revenue came from revenue-sharing payments versus Azure cloud services.

The two companies remain deeply financially intertwined even as they compete for customers. TechCrunch previously reported, citing leaked documents, that Microsoft received $865.8 million in net revenue-sharing payments from OpenAI during the first nine months of 2025. OpenAI reportedly shares 20% of its revenue with Microsoft under a deal in which Microsoft invested more than $13 billion, although neither company has publicly confirmed that percentage. Under an April 2026 agreement, OpenAI must continue sharing revenue with Microsoft through 2030, subject to a cap, while being allowed to work with competing cloud providers.

The partnership began loosening in October 2025, when Microsoft gave up its exclusive hold on OpenAI; in exchange, OpenAI committed to buying an additional $250 billion in Azure services. Microsoft‘s ownership stake in OpenAI declined from about 25% in June to 24% in September, continuing a gradual slide from roughly 27% after the October 2025 recapitalization. Microsoft did not specify what caused the dilution.