OpenAI's revenue, growth estimates fall short as company races toward IPO: Report

openai missed its own revenue and user growth targets, according to the wall street journal. finance chief sarah friar has flagged concerns about funding future compute deals if the slowdown continues, and is working with other execs to cut costs. the board is now scrutinizing openai's computing agreements more closely. altman and friar pushed back in a joint statement to cnbc, saying they're "totally aligned on buying as much compute as we can." still, chip stocks like oracle slumped on the news. the report comes ahead of openai's expected ipo later this year. openai has major spending commitments tied to its compute needs. oracle signed a $300 billion five-year deal with the company. nvidia has pledged billions. openai recently expanded its $38 billion agreement with amazon by $100 billion. this week, it also restructured its partnership with microsoft, which has invested over $13 billion since 2019 — capping revenue share payments and ending microsoft's exclusive ip license.