""IPO is not on the cards right now," she said at the event. "We are continuing to get the company into a state of constantly stepping up into the scale we are at, so I don't want to get wrapped around an IPO axle." And as the company eschews a public listing, Friar said that it's looking to create an "ecosystem of banks, private equity, maybe even governmental" so it can take on even more debt."
"It didn't take long for Friar to take to LinkedIn and renege on her previous statement, saying that "OpenAI is not seeking a government backstop for our infrastructure commitments." "I used the word 'backstop' and it muddied the point," she added. Even CEO Sam Altman intervened on X-formerly-Twitter in an apparent attempt to calm spooked investors, saying that "we do not have or want government guarantees for OpenAI data centers." "We believe that governments should not pick winners or losers, and that taxpayers should not bail out companies that make bad business decisions or otherwise lose in the market," he wrote."
OpenAI is not planning a public listing and is instead focused on scaling operations. The company is pursuing additional financing through banks, private equity, and other private partners to support increased debt. A suggestion was made that the US government could backstop guarantees to enable financing, without details on implementation. Investor concerns over an AI valuation bubble and OpenAI's significant losses raised questions about potential government involvement. A clarification stated OpenAI is not seeking a government backstop for infrastructure commitments, and leadership affirmed that government guarantees and taxpayer bailouts are not desired.
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