Microsoft winds down Oracle AI computing rental deal, report says
Oracle shares fell nearly 3% as a media report said Microsoft was reviewing billions of dollars in cloud partnerships.
OpenAI to continue US data-center expansion after Democratic election sweep
CFO Sarah Friar said the company is also raising fresh capital after its business grew 70% quarter over quarter in the third quarter.
OpenAI intends to continue expanding its US data centers despite concerns about increased scrutiny following a Democratic sweep in the midterm elections, Chief Financial Officer Sarah Friar said in a November 6 interview.
Friar said customer demand remained the focus of investment decisions and that OpenAI would keep developing relationships with communities to obtain the computing capacity it needs. Opposition to data centers featured prominently in the elections, with Democratic candidates pledging closer oversight of the facilities.
In an effort to address community concerns, OpenAI said it would stop requiring nondisclosure agreements from public officials during discussions or negotiations about future locations. The company also said residents would be able to review construction plans and information about their potential effects.
Friar also rejected suggestions that OpenAI had reduced its fundraising ambitions during the sharp selloff in AI stocks. She said the company was seeking additional capital after its business expanded 70% quarter over quarter in the third quarter, while enterprise demand doubled over that period.
Other technology companies have also signaled continued investment. Alphabet-owned Google said it would spend $17 billion on its first Wyoming data center.