There is a confused "leak" from OpenAI about cutting capex spend over the next 4 years, from $1.4 to $600b. But the piece doesn't make clear if they are the same spend buckets, but someone there is trying hard to leak a spending cut.

A tidbit in the piece: Inference costs up 4× in 2025; adjusted gross margin down from 40% → 33%. Price deflation and competition are hammering it.

https://www.reuters.com/technology/openai-sees-compute-spend-around-600-billion-by-2030-cnbc-reports-2026-02-20/