Overview
- At The Wall Street Journal’s Tech Live conference, CFO Sarah Friar said an IPO is "not on the cards right now" and emphasized prioritizing scale over profit.
- Following criticism of her remarks about government support, Friar later clarified that OpenAI is not seeking federal loan guarantees and said her use of "backstop" caused confusion.
- Friar described building an "ecosystem" of financing that could include banks, private equity, and potentially governmental participants without requesting explicit guarantees.
- Reports highlight very large, still‑reported infrastructure arrangements, including a $300 billion Oracle partnership and a $500 billion "Stargate" venture with Oracle and SoftBank.
- Coverage notes OpenAI’s projected revenues in the tens of billions remain far below the capital required for its compute buildout, raising questions about funding structure and lender protections.