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Aug 20, 12:25 PM
OpenAI Plans Trillion-Dollar AI Build-Out, Weighs Eventual IPO
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AI Fundraising
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AI

OpenAI Plans Trillion-Dollar AI Build-Out, Weighs Eventual IPO

Authors
  • *Walter Bloomberg
  • FinancialJuice
  • Benzinga
5

OpenAI chief executive officer Sam Altman said the artificial-intelligence company is prepared to invest "trillions of dollars" over time in new data-center infrastructure, arguing that the scale of computing and energy required for advanced models calls for unprecedented capital outlays. Speaking to reporters on 20 Aug., Altman added that the company is exploring novel financing instruments to underwrite the build-out and mitigate supply bottlenecks. Altman acknowledged delays in the firms’ $500 billion Stargate data-center initiative but maintained that the long-term spending trajectory remains intact. He said OpenAI is working with investors on ways to raise the necessary sums while keeping control of the technology and its direction. Both Altman and the company’s chief financial officer said OpenAI will "look at going public at some point in the future," framing a potential initial public offering as a logical step once the investment program is further advanced. No timetable, valuation target or listing venue was disclosed.

Written with ChatGPT .

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