OpenAI will keep investing in data centers despite results of midterms - CFO

Despite voter opposition to data centers in the recent midterm elections, OpenAI's CFO Sarah Friar emphasized on Friday that the company will continue investing in AI infrastructure to meet customer demand. In an interview with CNBC's Sara Eisen at the Citi TMT Leadership Summit in Pebble Beach, California, Friar highlighted the importance of building relationships with major cloud providers and raising capital to support this growth.

Voter opposition to data center development was evident across the country, with all but one of the 41 local ballot measures across 10 states rejecting or restricting such projects. The Nasdaq saw its steepest drop in 19 months, driven by declines in chipmaker and neocloud company shares related to AI development, though stocks partially recovered on Friday.

OpenAI has published its policy blueprint and commitments to apply to its future data centers, and Friar stated the company will continue working to build trust with communities. OpenAI aims to debut in 2027, while Anthropic, its main rival, plans to list on the Nasdaq in mid-November. Anthropic's revenue grew nearly 1,200% to $33.2 billion in the first nine months of the year, and the company has committed to spend approximately $895.4 billion on compute and infrastructure.

OpenAI is in talks to raise funding at a $1.25 billion pre-money valuation, with Friar noting that a CFO should always seek additional funding when possible.