(Reuters) -ChatGPT parent OpenAI does not “want government guarantees” for its data centers, CEO Sam Altman said on Thursday, while adding that the startup at the heart of the artificial intelligence boom expects to end this year with an annualized revenue run rate above $20 billion.
OpenAI is in the midst of a multi-billion dollar build-out of data center capacity and has entered into deals with chipmakers ranging from Nvidia to AMD as it spends heavily to secure the necessary infrastructure to power AI models.
The startup expects its annualized revenue run rate to grow to hundreds of billions by 2030, Altman said in a post on social media platform X. The company is looking at commitments of about $1.4 trillion over the next eight years, he added.
This comes at a crucial time for Wall Street, as investors mull over fears of an AI bubble, questioning the returns on hundreds of billions of dollars in investment on AI expansion.
“If we screw up and can’t fix it, we should fail, and other companies will continue on doing good work and servicing customers,” he said. “The ecosystem and economy would be fine.”
David Sacks, the White House artificial intelligence and crypto czar, said earlier on Thursday that there will be no federal bailout for AI, as U.S. races to cement its position as a global leader in the booming technology.
“Given our vantage point, we feel good about it. But we of course could be wrong, and the market — not the government — will deal with it if we are,” Altman said, addressing talks of the federal government not stepping in if the massive build-out of AI infrastructure does not produce desired results.
OpenAI has discussed loan guarantees as a part of scaling up semiconductor fabs in the U.S., Altman said.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Alan Barona)
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