OpenAI’s CFO says the funding round should close by next week in a letter

OpenAI CFO Sarah Friar wants to reassure her investors that the value-rich AI startup is still in a strong position and poised to close a major funding round soon, despite the loss of top talent this week.

In an email to OpenAI investors seen by CNBC, Friar referred to the departure of Chief Technology Officer Mira Murati, who announced her departure on Wednesday. Later that day, Sam Altman said that two top research executives, Bob McGrew and Barret Zoph, were also leaving.

“I wanted to reach out personally after the news of Mira’s departure from OpenAI,” Friar wrote. “While leadership changes are never easy, I want to make sure you have the full context.”

Friar added that, “We’re incredibly proud of everything he’s helped build,” and said the San Francisco-based company still has a “talented leadership bench” to compete with.

OpenAI, which is powered by Microsoft and recently collaborated with Apple for its artificial intelligence for iPhone, is in the midst of closing a $6.5 billion funding round that is expected to value the company at about $150 billion, according to sources familiar with the matter. Thrive Capital is leading the round and plans to invest $1 billion, the sources said.

Friar said in the email that the funding round was oversubscribed and will close next week. He said the team plans to host a series of investor calls to introduce the team to key leaders from product and research teams.

“Collectively, we remain laser-focused on bringing AI to everyone and creating sustainable revenue models that power our business and deliver value to our investors and employees,” Friar wrote. The company is “thrilled to have you join us as we enter our next chapter,” he wrote.

OpenAI declined to comment on the email.

Murati’s departure comes after 6½ years with the company. She served briefly as interim CEO last year after the board abruptly fired Altman. When Altman was quickly reinstated, Murati returned to the role of CTO.

The company was already dealing with the loss of key executives. Co-founder John Schulman and chief security officer Jan Leike left to join rival Anthropic. Co-founder Ilya Sutskever left to start another AI company, while another founder, Greg Brockman, is on leave.

Friar said Mark Chen will assume the role of senior vice president of research and leaders such as Kevin Weil, who joined from Afterand Srinivas Narayanan are “the right people to continue pushing the boundaries of innovation.”

Friar was its former CEO Next doorand before that CFO at Barrierformer Square.

Also Thursday, in a plenary session, Altman denied there are plans to take a “giant equity stake” in the company, calling reports of such a development “simply not true,” according to a person in attendance.

Altman and Friar both said in the meeting, which was conducted via video, that investors have raised concerns that Altman does not own stock in the company he co-founded nearly nine years ago, said the person, who asked not to be identified. named because the rally was for workers only.