Common sense, having been around cloud operations for a bit. The big cloud providers run gross margins around 30%. So if openai are using MSFT and getting a "good deal" maybe MSFT only get 20% GM. So, $1 of openai compute costs MSFT say $0.80. Of that cost of providing the service, something like 30-40% goes to electricity. So, lets say the electricity cost is $0.30 for $1 of OpenAI compute. (And that's probably a steelman, I think it's actually more like $0.20. )
There is about zero chance OpenAI are running their service at a 70% negative gross margin.
