OpenAI CEO Sam Altman publicly stated that the company does not seek government guarantees for its data center investments, asserting that governments should not pick market winners or bail out companies that make poor business decisions. This statement, shared on X on Thursday, followed earlier comments by OpenAI CFO Sarah Friar regarding a potential federal backstop for infrastructure loans.
Friar, speaking at a Wall Street Journal event on Wednesday, had suggested that a U.S. government "backstop" could reduce the cost of infrastructure loans and increase the amount of debt the company could undertake. She linked this concept to ensuring access to the latest computing chips and described AI as a "national strategic asset." A backstopped loan involves government guarantees, which can lead to better terms for the borrower.
Following media reports and public discussion regarding her comments, Friar issued a clarification on LinkedIn. She stated, "OpenAI is not seeking a government backstop for our infrastructure commitments. I used the word 'backstop' and it muddied the point."
The discourse also drew comment from David Sacks, former Trump AI Czar and venture capitalist, who posted on X that "There will be no federal bailout for AI." Sacks emphasized the competitive nature of the U.S. AI industry, noting that multiple major frontier model companies exist, and market forces would determine their success.
Altman's subsequent X post aligned with Sacks' sentiment, further clarifying OpenAI's position. He indicated that while discussions about loan guarantees have occurred, they were in the context of supporting semiconductor fab buildouts in the U.S., not for OpenAI's direct infrastructure. He added that OpenAI had not formally applied for such guarantees.
OpenAI is facing significant infrastructure investment, with commitments estimated at $1.4 trillion over the next eight years for data centers and associated usage. The company's annual revenue run rate is projected to exceed $20 billion this year, with aspirations to grow to hundreds of billions by 2030, according to Altman. He cited confidence in the company's enterprise offerings, new consumer devices, and robotics initiatives as key growth drivers.
