OpenAI CFO Addresses Concerns Over Slower AI Development
Amid growing concerns over slowing down the development of advanced artificial intelligence models, OpenAI Chief Financial Officer Sarah Friar reassured investors during a CNBC interview. Her comments aimed to counter fears that a slower pace might reduce Openai's value or hinder growth. Friar emphasized confidence in existing AI capabilities and stated the company would focus on improving current models rather than rushing new ones. The market had reacted nervously after Anthropic CEO Dario Amodei called for voluntary pauses in model development to prioritize safety research, a stance supported by OpenAI's Sam Altman and Elon Musk. This led to sharp declines in AI chip stocks like Broadcom (AVGO), which fell 4.8% following the announcement. OpenAI is preparing for an IPO as early as 2027 but has scaled back its infrastructure spending plans, reducing long-term data-center commitments from $1.4 trillion to around $600 billion by 2030.
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