OpenAI presses data-center plans as local opposition grows
CFO Sarah Friar says OpenAI will keep investing and raising capital, while the company outlines new commitments to communities near future sites.
Key takeaways
- Sarah Friar said OpenAI will continue investing in AI infrastructure despite election backlash.
- OpenAI is raising capital and is in talks at a $1.25 billion pre-money valuation.
- The company said it will stop using nondisclosure agreements with public officials over future sites.
OpenAI will continue investing in AI data centers despite growing opposition to the facilities in this week’s midterm elections, Chief Financial Officer Sarah Friar told CNBC on Friday. She also said the company is raising capital and is discussing a round at a $1.25 billion pre-money valuation.
In 41 local ballot measures across 10 states, voters backed restrictions or rejected pro-development measures in all but one, according to an analysis by Ballotpedia and results gathered by CNBC. Friar said she did not think the election results dramatically changed OpenAI’s plans.
OpenAI said it will no longer use nondisclosure agreements with public officials when discussing future sites. The company also plans to give residents access to construction plans and information about their potential effects.
Friar said the fundraising round is ongoing. She told CNBC that OpenAI’s business grew 70% quarter over quarter in the third quarter, while enterprise demand doubled over the same period.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
