OpenAI seeks US government loan guarantees for AI infrastructure
OpenAI, the team behind ChatGPT, wants the US government to back its loans so it can keep building out huge AI infrastructure.
CFO Sarah Friar explained that federal support would make borrowing cheaper and attract more lenders by lowering their risk.
OpenAI has committed to approximately $1 trillion in infrastructure deals this year, including a $300 billion Oracle partnership and a $500 billion Stargate project with Oracle and SoftBank.
No plans for an IPO in the near future
Despite rumors, OpenAI isn't planning to go public yet. Friar says they're focused on growing first.
Recent media reports suggested that a governance shakeup could let public shareholders join in down the road.
Even with tens of billions in projected revenue, covering those massive computing costs is still a big challenge.