Overview

• July revenue topped $1 billion as annual recurring revenue reached about $10 billion, with CNBC reporting talks to sell roughly $6 billion in stock at a valuation near $500 billion.
• Friar said the company is "constantly under compute" because demand for GPUs and AI capacity is outpacing available supply.
• CEO Sam Altman said OpenAI could spend trillions of dollars on data centers to meet training and inference demand.
• OpenAI is considering a future service to let other businesses tap its AI infrastructure, which Friar likened to an AWS-style model, though it is not pursuing this yet.
• The infrastructure build-out includes the Stargate initiative with SoftBank and Oracle and projects with CoreWeave, while Microsoft remains a key partner.