Related News

Andy Jassy, CEO of Amazon, speaks during an unveiling event in New York, Feb. 26, 2025. Michael Nagle | Bloomberg | Getty Images Amazon CEO Andy Jassy has tapped one

OpenAI’s artificial intelligence models could help power Amazon’s digital assistant Alexa and other internal projects at the e-commerce giant, CNBC confirmed on Wednesday. The collaboration between the two companies is

The Microsoft logo and lettering can be seen on the Microsoft Deutschland GmbH headquarters building in Parkstadt Schwabing in Munich. Matthias Balk | Picture Alliance | Getty Images Microsoft said

Pinterest plans to cut its workforce by 15% this year, a move the company said will allow it to reallocate resources to the build-out of its artificial intelligence capabilities. The

Pinterest said it fired two engineers who built an internal tool to track which employees had been laid off following a recent round of job cuts at the social media

AI startup ElevenLabs announced on Wednesday it had raised $500 million at an $11 billion valuation, as it eyes a potential IPO. Sequoia Capital led the round, with participation from

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

OpenAI CFO Sarah Friar says company is not seeking government backstop

Word Count: 330 | Estimated Reading Time: 2 minutes


Sarah Friar, CFO of OpenAI, appears on CNBC’s Squawk Box on August 20, 2025.

CNBC

OpenAI CFO Sarah Friar said late Wednesday that the artificial intelligence startup is not seeking a government backstop for its infrastructure commitments, clarifying previous comments she made on stage during the Wall Street Journal’s Tech Live event.

At the event, Friar said OpenAI is looking to create an ecosystem of banks, private equity and a federal “backstop” or “guarantee” that could help the company finance its investments in cutting-edge chips. But in a LinkedIn post late Wednesday, Friar softened her stance.

“I used the word ‘backstop’ and it muddied the point,” Friar wrote. “As the full clip of my answer shows, I was making the point that American strength in technology will come from building real industrial capacity which requires the private sector and government playing their part.”

OpenAI has inked more than $1.4 trillion of infrastructure deals in recent months to try and build out the data centers it says are needed to meet soaring demand. The agreements have raised questions around how the company can afford to make such massive commitments.

In September, Friar told CNBC that OpenAI expected to generated roughly $13 billion in revenue this year. But on a podcast over the weekend, OpenAI CEO Sam Altman told investor Brad Gerstner that the company is doing “well more revenue than that.”

Altman bristled when Gerstner asked how OpenAI could make more than $1 trillion of spend commitments given its revenue.

“Brad, if you want to sell your shares, I’ll find you a buyer,” Altman said. “Enough.”

In her LinkedIn post, Friar emphasized that the U.S. government will be a crucial partner for the company as it works to build out its infrastructure.

“As I said, the US government has been incredibly forward-leaning and has really understood that AI is a national strategic asset,” Friar wrote.

WATCH: OpenAI CFO Sarah Friar: ‘More compute, more revenue’ in response to concern on Oracle, Nvidia deals

OpenAI CFO Sarah Friar: 'More compute, more revenue' in response to concern on Oracle, Nvidia deals



Source link

Most Popular Articles