Aakash Gupta, The Information, and others frame OpenAI as needing massive capital while being unready for public-market scrutiny, highlighted by Sarah Friar reporting to the head of applications and being excluded from key meetings.
The CFO who just raised $120 billion for OpenAI now reports to the head of applications instead of the CEO.
OpenAI has a real problem imo. The public capital markets are the only place they’ll be able to raise the kind of capital it says it needs.
Sources: Sam Altman has excluded OpenAI CFO Sarah Friar from some key financial meetings; Friar began reporting to Fidji Simo instead of the CEO in August 2025
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