OpenAI executives are currently addressing numerous inquiries regarding the financing of their substantial data center build-outs and usage commitments, which have amounted to $1.4 trillion this year. This comes as their revenue, while experiencing rapid growth, stands at a $20 billion annual run rate, as noted by CEO Sam Altman in a recent post on X. Altman's remarks followed swiftly after comments made by OpenAI CFO Sarah Friar, which she subsequently retracted.

During a Wall Street Journal event, Friar had suggested that she desired the U.S. government to "backstop" her company's infrastructure loans. Her rationale was that such a guarantee would reduce the cost of these loans and ensure OpenAI could consistently utilize the latest and most advanced chips. A backstopped loan implies that the government guarantees it, meaning taxpayers would cover the cost if the company defaults, leading lenders to offer more favorable terms due to lower risk. Friar explained that while using older chips, which OpenAI currently does due to compute constraints, makes financing more affordable, the company's ultimate goal is to always deploy its state-of-the-art models on the newest chips. To finance this continuous upgrade cycle, she mentioned the company was seeking an "ecosystem" of support, including banks, private equity firms, and, hopefully, the government. When pressed on the government's role, she specifically cited "the backstop, the guarantee that allows the financing to happen," believing it could significantly lower financing costs and increase the loan-to-value ratio. She also hinted that such discussions, particularly in the U.S., were already underway, stating, "The U.S. government, in particular has been incredibly forward-leaning, has really understood that AI is almost a national strategic asset."

Following the publication of the clip by The Wall Street Journal and considerable skepticism from influential X users, Friar promptly recanted her statements. She clarified on LinkedIn, "I want to clarify my comments earlier today. OpenAI is not seeking a government backstop for our infrastructure commitments. I used the word ‘backstop’ and it muddied the point."

The discourse continued with Trump’s former AI czar, David Sacks, weighing in on Thursday. Sacks, a prominent Silicon Valley venture capitalist, asserted on X that the U.S. has no intentions of bailing out any AI company. He posted, "There will be no federal bailout for AI. The U.S. has at least 5 major frontier model companies. If one fails, others will take its place," adding that the government's focus is on streamlining "permitting and power generation." While not directly naming Friar, he also expressed understanding for her