OpenAI’s astounding growth rate potential is luring possible investors as questions loom over whether the startup will go public.
“In terms of a multiple to pay for stock like ours, there’s incredible interest at the moment,” finance chief Sarah Friar told CNBC’s David Faber on Thursday. Its future growth potential has also enabled OpenAI to “achieve valuations that are on par with the growth rate of the scale” it is reaching.
Friar also called the possibility of the company achieving $11 billion within the “realm of possibility,” adding that the ChatGPT maker’s pace of innovation has prevented it from becoming a “commodity.”
“We have managed to punch well above our weight to become effectively a hyperscaler, both in terms of the compute that we’re buying and the way we’re investing in it,” she said.
The interview with Friar comes during a pivotal time, with the startup reportedly in talks to close a $40 billion investment from SoftBank that would value it at almost $300 billion.
Earlier this month, CEO Sam Altman rejected a more than $97 billion bid from co-founder Elon Musk and a group of investors to take control of the startup. The billionaire and Tesla CEO is also suing OpenAI for breach of contract as it attempts to convert into a for-profit corporation.
Friar appeared unbothered by the recent noise from Musk, telling CNBC that OpenAI remains focused on its mission to make search, research and other tasks easier for their workers.
“We are eyes on the prize, which is, how do we keep growing our business,” she said. “You see it in our numbers.”
OpenAI announced Thursday that it has surpassed 400 million users even as it faces ongoing competition in the space.