OpenAI CEO Sam Altman recently said the company has “well over” $13 billion in annual revenue — and he sounded a little testy when pressed about how it will pay for its massive spending commitments.
His comments came during joint interview on the Bg2 podcast between Altman and Microsoft CEO Satya Nadella about the partnership between their two companies. Host Brad Gerstner (who is also the founder and CEO of Altimeter Capital) cited reports that the company is currently bringing in about $13 billion in revenue — a pretty hefty sum, but less than the $1 trillion in computing infrastructure spending commitments that OpenAI has made over the next decade.
“First of all, we get more revenue from it,” Altman said. “Second of all, Brad, if you want to sell your shares, I’ll find you a buyer. Just — enough. I think there are a lot of people who would like to buy shares of OpenAI.”
“Including myself,” Gerstner interjected.
Altman then added that there are critics who “talk a lot about our computing stuff or anything else that would be excited to buy our stock.”
In fact, he said that while “there aren’t many times” when he wants OpenAI to be a public company, “One of the rare times it’s appealing is when these people write these ridiculous ‘OpenAI is going to shut down.’ [posts]I’d love to tell them they could just short the stock and I’d love to see them burn on it.”
Altman acknowledged that there are ways the company “can screw up” — for example by failing to access enough computing resources — but said “revenues are skyrocketing.”
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“We’re taking a bet that it will continue to grow, and that not only will ChatGPT continue to grow, but we’ll be able to become one of the major AI clouds, that our consumer device business will be a major and important thing, that AI that can automate science will create tremendous value,” he added.
Nadella, who laughed off much of Altman’s response, also claimed that OpenAI has “beaten” every business plan it has given Microsoft as an investor.
Gerstner returned to the subject of OpenAI’s revenue and IPO plans later in the interview, when he speculated that the company would reach $100 billion in revenue in 2028 or 2029.
“How about ’27?” countered Altman.
At the same time, he denied reports that OpenAI plans to go public next year.
“No, no, we don’t have anything that specific,” Altman said. “I’m a realist, I guess it will happen someday, but I don’t know why people are writing 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 guess that’s where things will eventually go.”
