Blaize Holdings, Inc. (BZAI) disclosed substantial doubt about its ability to continue as a going concern in its 2025 annual filing. The AI computing company reported operating losses of $103.8 million in 2025, up from $47.6 million in 2024.
Blaize used $73.8 million in cash for operating activities during 2025. Management said recurring losses and negative cash flow prompted the warning, indicating the company may need to raise additional funds to continue operations.