Key insights
- OpenAI refuted a WSJ report highlighting missed revenue targets and concerns about funding data center expansion. CFO Sarah Friar reportedly expressed worries about future computing contract payments if revenue doesn't accelerate. While OpenAI claims its business is strong, the report raises concerns about the company's financial health and its ability to sustain growth, potentially impacting investor sentiment in the AI sector.
Investing.com -- OpenAI pushed back on Tuesday against a Wall Street Journal report that said the company missed internal targets for new users and revenue, raising concerns among leadership about funding future data center spending.
The company responded on social media platform X, stating that "breakout Codex growth, enterprise offerings on every cloud, the only consumer app that matters, a compute strategy built to accelerate, and the best researchers in the world" demonstrate strong performance indicators.
The Wall Street Journal reported that Chief Financial Officer Sarah Friar expressed concerns to company leaders about the ability to pay for future computing contracts if revenue growth doesn’t accelerate. The report also said board directors have examined the company’s data-center deals more closely in recent months and questioned Chief Executive Sam Altman’s efforts to secure additional computing power amid the business slowdown.
In a statement to Bloomberg on Tuesday, OpenAI said its business is "firing on all cylinders" and that its enterprise and advertising business are growing.