Sarah Friar

Money Moves

Reports to Fidji Simo (CEO of Applications), not Sam Altman — a structure in place since August 2025. Altman has excluded her from key financial meetings. Continues to caution colleagues about compute commitment risks ahead of the IPO.

SoftBank's talks to borrow $6 billion against its OpenAI shares stalled on June 10 after banks balked at pricing private-company collateral. SoftBank had gathered roughly $5 billion in soft commitments before the pause.

Updated Jun 11

Money Moves

Overseeing IPO preparation and financial restructuring

Four months ago, Sam Altman told the world OpenAI had $1.4 trillion in data center commitments. Now the company is telling investors the real number is $600 billion — and that it would rather rent computing power than build its own facilities. The retreat, disclosed to investors in February 2026 and detailed publicly on March 22, marks the sharpest pivot in the short history of the artificial intelligence spending boom.

Updated May 30

Money Moves

Urging 2027 IPO delay; warning that revenue growth may not cover $600B in infrastructure commitments

After the $122 billion round closed in April, OpenAI ended its Azure cloud exclusivity and capped Microsoft's revenue share at $38 billion through 2030. On May 18, a jury dismissed Elon Musk's suit seeking $134 billion and the reversal of OpenAI's for-profit structure.

Updated May 29

Money Moves

Owner of the financial story going into the prospectus

OpenAI filed a confidential draft registration with the Securities and Exchange Commission (SEC) on Friday, May 22, 2026. The filing is the first formal step toward a public listing that could value the ChatGPT maker above $1 trillion.

Updated May 22