Sam Altman Shuts Down OpenAI Revenue Questions
▼ Summary
– OpenAI CEO Sam Altman stated the company’s annual revenue significantly exceeds $13 billion and dismissed concerns about its spending commitments.
– Altman expressed frustration with critics questioning OpenAI’s finances and offered to buy shares from any skeptical investors.
– He indicated that while going public isn’t currently planned, he’d consider an IPO partly to allow critics to short the stock and face losses.
– Altman emphasized OpenAI’s steep revenue growth and future bets on expanding ChatGPT, AI cloud services, consumer devices, and AI-driven science automation.
– Microsoft CEO Satya Nadella affirmed that OpenAI has consistently exceeded the business plans presented to Microsoft as an investor.
During a recent joint podcast appearance, OpenAI CEO Sam Altman firmly addressed questions about the company’s financial health, revealing that OpenAI’s annual revenue significantly exceeds the reported $13 billion figure. His comments came in response to host Brad Gerstner’s inquiries about how the company plans to manage its enormous spending commitments, which reportedly surpass one trillion dollars for computing infrastructure over the coming decade.
Altman appeared somewhat frustrated by the line of questioning. He stated, “First of all, we’re doing well more revenue than that,” before directly challenging Gerstner. “Second of all, Brad, if you want to sell your shares, I’ll find you a buyer. I just, enough. I think there are a lot of people who would love to buy OpenAI shares.” Gerstner immediately responded, “Including myself,” highlighting the continued investor interest in the artificial intelligence firm.
The CEO went on to note that many critics who express “breathless concern” about OpenAI’s computational expenses would actually be thrilled to purchase company shares if given the opportunity. While Altman generally prefers keeping OpenAI private, he admitted there are rare moments when going public seems appealing, specifically when he could watch pessimistic analysts “get burned” by shorting the stock.
Altman acknowledged potential risks, including the possibility that the company “might screw it up” by failing to secure sufficient computing resources. However, he emphasized that “revenue is growing steeply” and expressed confidence in OpenAI’s future trajectory. The company is making substantial forward-looking bets that ChatGPT will continue its growth, that OpenAI will emerge as a major AI cloud provider, that its consumer device business will become significant, and that its AI systems capable of automating scientific research will generate enormous value.
Microsoft CEO Satya Nadella, who participated in the same interview, appeared amused by Altman’s forceful responses. Nadella confirmed that OpenAI has consistently “beaten” every business plan presented to Microsoft as an investor, reinforcing the strength of their partnership.
When Gerstner later speculated about OpenAI potentially reaching $100 billion in revenue by 2028 or 2029, Altman quickly countered with “How about ’27?” showing his ambitious timeline for the company’s financial growth. Despite this optimism, he firmly denied recent reports suggesting an imminent public offering. “No no no, we don’t have anything that specific,” Altman clarified. “I’m a realist, I assume it will happen someday, but I don’t know why people write these reports. We don’t have a date in mind, we don’t have a board decision to do this or anything like that. I just assume it’s where things will eventually go.”
(Source: TechCrunch)
