After criticism, OpenAI retracts government guarantee idea

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The chief financial officer of OpenAI has retracted her idea that the US government provide loan guarantees for the ChatGPT-maker’s massive infrastructure expansion, which will cost more than $1 trillion.

CFO Sarah Friar on Monday explained that a government “backstop” could help attract the enormous investment needed for AI computing and infrastructure, given the uncertain lifespan of AI data centers.

Federal loan guarantees would “really drop the cost of the financing,” she explained, enabling OpenAI and its investors to borrow more money at lower…



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After criticism, OpenAI retracts government guarantee idea



The chief financial officer of OpenAI has retracted her idea that the US government provide loan guarantees for the ChatGPT-maker’s massive infrastructure expansion, which will cost more than $1 trillion.

CFO Sarah Friar on Monday explained that a government “backstop” could help attract the enormous investment needed for AI computing and infrastructure, given the uncertain lifespan of AI data centers.

Federal loan guarantees would “really drop the cost of the financing,” she explained, enabling OpenAI and its investors to borrow more money at lower…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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