Justin Sullivan/Getty Images News Microsoft-backed (NASDAQ:MSFT) OpenAI is not expected to earn annual profits until 2029, according to company financial documents obtained by The Information. The documents show annual losses could strike as high as $14B in 2026, the report said. The projections showed the company reaching annual revenue of $100B in 2029. OpenAI also expects to spend about $200B through the end of the decade, minus stock compensations. Losses between 2023 and 2028 are projected to total $44B. The report also found that Microsoft is entitled to 20% of OpenAI's revenue. Last week, OpenAI completed its latest funding round totaling $6.6B, which propelled the company to a $157B valuation. Microsoft and Nvidia (NVDA) both participated in the round.