Tension is rising inside OpenAI, the developer of ChatGPT, as differences emerge between the chief executive officer (CEO) and the chief financial officer (CFO) over the timing of an initial public offering (IPO).
The Information, an IT-focused outlet, reported on the 5th (local time), citing sources, that CFO Sarah Friar recently told some colleagues that the company is not sufficiently prepared to go public this year. The reason, it said, is the significant risk stemming from procedural and organizational readiness and expenditure commitments.
Friar, the CFO, is said to be particularly uncertain whether the current pace of revenue growth can bear the burden of large-scale investments ahead.
This point clashes with CEO Sam Altman's plan to push for an IPO within the year, even as infrastructure investments such as data centers totaling $600 billion over the next five years are on the books.
The differing views are leading to subtle friction within the leadership. Altman, the CEO, reportedly excluded CFO Friar from a key finance meeting with major investors regarding server investments.
It is also seen as unusual that, contrary to the typical structure, Friar, the CFO, is reporting not to Altman, the CEO, but to the head of business operations.
The divergence between the two appears to stem from their roles and careers. While CEO Altman emphasizes an aggressive growth strategy, Friar, the CFO and a former investment banker, is said to prioritize financial stability and risk management.
A source said of Friar, the CFO, "It's not easy to support a founder who is pushing to expand expenditure."
As the controversy grew, the two issued a joint statement to tamp it down. They said, "We agree that securing compute resources is central to OpenAI's strategy, and we have participated together in key decision-making."
Meanwhile, behind Altman's push to expedite a listing is reportedly a judgment to move ahead of rival Anthropic with an IPO.
By contrast, Anthropic CEO Dario Amodei has pointed to a gap between the pace of technological progress and revenue growth, warning that if growth falls short of expectations, financial risks could increase.