Particle Data Platform

OpenAI CFO Sarah Friar on IPO, AI Rivalries, New Device, and Spending $100B+ on Compute

6/2/202632 min

(0:00) OpenAI CFO Sarah Friar joins the show!

(0:31) How OpenAI thinks about its IPO timeline

(3:31) OpenAI, Anthropic, Google: The AI arms race

(7:43) Navigating the compute crunch and AI bottlenecks, device preview!

(15:53) OpenAI's economics

(26:08) Push into chips, the cloud

(29:32) OpenAI's ad business and strategy

Thanks to our partners for making this possible!

EY - Agentic AI is introducing a new investment discipline. As AI shifts to consumption-based models, EY connects spend to enterprise value.

https://www.ey.com/en_us/insights/ai/agentic-ai-token-costs?WT.mc_id=3501318&AA.tsrc=sponsorship

NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE.

https://www.nyse.com

Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight.

https://www.plaud.ai

Follow Sarah Friar:
https://x.com/thefriley⁠

Apply for Summit 2026:
https://allin.com/events⁠

Follow the besties:
https://x.com/chamath⁠
https://x.com/Jason⁠
https://x.com/DavidSacks⁠
https://x.com/friedberg⁠

Follow on X:
https://x.com/theallinpod⁠

Follow on Instagram:
https://www.instagram.com/theallinpod⁠

Follow on TikTok:
https://www.tiktok.com/@theallinpod⁠

Follow on LinkedIn:
https://www.linkedin.com/company/allinpod⁠

Intro Music Credit:
https://rb.gy/tppkzl⁠
https://x.com/yung\_spielburg

Clips

Transcript preview

First 90 seconds
  1. David Sacks· Host0:00

    OpenAI's CFO, Sarah Friar.

  2. Jason Calacanis· Host0:02

    We've got to get right to it. You have just completed what I regard as the most successful fundraising round in history.

  3. Sarah Friar· Guest0:09

    We're gonna raise actually north of $120 billion. We think AI is the biggest era that we've seen to date. We're just starting to understand what it's gonna mean for global productivity, and with that, you know, hopefully more affluence, better lives for everyone. Luck is whatever the preparation meets opportunity, but you got to grab it. Longtime listener, first-time caller. [laughs] Quite exciting to get to hang out with all the bros here.

  4. Jason Calacanis· Host0:38

    Ugh.

  5. Sarah Friar· Guest0:38

    Hello.

  6. Speaker 30:38

    We weren't sure how to start this off, but I thought the best thing was to allow our erstwhile crypto tsar to maybe- Of course ... save comments and- I saw an article today, I think it might have been in The Wall Street Journal, that the perception is that there's an advantage to IPO-ing earlier if you're an AI company.

  7. David Sacks· Host0:57

    So now we know SpaceX is going, and then the question is, when's, when are OpenAI and Anthropic gonna go? And I'm curious, how do you think about that? Do you think there is a little bit of a race on? Or, you know, you haven't made a decision about that yet?

  8. Sarah Friar· Guest1:12

    Like, in the end, an IPO, I say this to the team all the time, it's a milestone. It is not a destination. Do not run your company as if that's some sort of destination. It's just another way to fundraise. We just did, you heard me on, on the, the sa- the sizzle reel, raise $122

We value your privacy

We use cookies to understand how you use our platform and to improve your experience. Click "Accept All" to consent, or "Decline non-essential" to opt out of non-essential cookies. Read our Privacy Policy.