Latest news with #DublinTechSummit
Time of India
2 days ago
- Business
- Time of India
ChatGPT-maker OpenAI's CFO talks about future IPO at Dublin Tech Summit but 'warns' audience: 'Nobody tweets in this room that Sarah Friar...'
OpenAI 's Chief Financial Officer, Sarah Friar , has said that the company's recent restructuring plans may pave the way for a future initial public offering (IPO). However, any decision to go public would hinge on both the readiness of the company and the prevailing conditions in public markets. "A PBC gets us to an IPO-able event... if and when we want to," Friar said at the Dublin Tech Summit . She humorously cautioned the audience, "Nobody tweet in this room that Sarah Friar just said anything about OpenAI ultimately going public. I did not. I said it could happen." When questioned about the prerequisites for an OpenAI IPO , Friar highlighted two essential factors: the company's preparedness and the market's receptiveness. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Artificial Intelligence and Machine Learning For Working Professionals. BITS Pilani WILP Apply Now Undo "You can show up at the altar all ready to go, and if the market's not ready for you, yeah, you're just out of luck," she explained. Friar emphasised the importance of building a sustainable and resilient company, regardless of public market conditions. She added that while high-growth companies might tolerate some unpredictability, the market generally prefers a degree of certainty from public entities. OpenAI decides to be under non-profit parent's control OpenAI, which has received over $13 billion in investment from Microsoft, had initially announced plans in December to convert its for-profit arm into a public benefit corporation (PBC). This structure aims to balance financial returns for shareholders with broader social objectives, a contrast to non-profit entities focused solely on public good. Earlier this month, the ChatGPT-maker adjusted this plan, ensuring its non-profit parent retains control of the PBC while becoming a significant shareholder, allowing the for-profit arm to raise necessary capital for continued competitiveness in the AI sector. Lost keys? Not anymore! Best Bluetooth trackers for Android under Rs 1,500! AI Masterclass for Students. Upskill Young Ones Today!– Join Now
RTÉ News
2 days ago
- Entertainment
- RTÉ News
Musicians shouldn't feel threatened by AI
As a founding member and drummer with The Police, Stewart Copeland knows what it takes to make a hit. He has embraced the latest technological advances throughout his career and believes musicians should not feel threatened by artificial intelligence (AI). He was one of the keynote speakers at this year's Dublin Tech Summit, focussing on the impact of tech on the music industry. At a time when many artists are worried that AI could steal their work and even one day replace them, Mr Copeland has a more optimistic view of how technology and music can work together. "I was one of the first artists to be threatened by technology," he said. "In the late sixties or early seventies someone invented the drum box. "It was the beginning of the threat to all drummers because a machine played it better." He agrees however that the threat was unfounded. "As in most cases of advancing technology, some people are displaced and others and empowered and I think that is probably the case with AI," he said. He believes AI is a blessing for creatives. "At the moment, AI is generating lame music that people don't respond to, who knows maybe it will get better, but at the moment, the creative types who are interacting with AI are using their tastes to discern between lame and cool." Mr Copeland says there are unanswered questions when it comes to AI and copyright, but believes it will be much harder for AI to replace musicians when it comes to live performances. "The kind of artistic work I do, banging on drums, my gig is safe." "As far as recording, yes the machines sought to replace me decades ago, but as for me showing up to perform in front of an audience, I don't think they want to watch a computer." The Dublin Tech Summit (DTS25) welcomed more than 8,000 attendees at the RDS this week. Industry leaders from around the world gathered to showcase and discuss the latest developments in technology, with a major focus this year on AI. The summit is the centrepiece of Dublin Tech Week, a week-long celebration of all things tech from 23 - 30 May, incorporating both industry and community-led events, supported by Dublin City Council and major city stakeholders. "DTS25 brings global tech leaders to our island not just to talk, but to shape the future. We want to bring people together to share ideas they can actually use in their work and in their everyday lives," said Clare Kilmartin, COO of Dublin Tech Week.
Indian Express
2 days ago
- Business
- Indian Express
OpenAI CFO says new structure opens door for potential IPO
OpenAI's restructuring plans position it for a potential future IPO, but any such decision would depend on the mood in public markets as well as the readiness of the company, Chief Financial Officer Sarah Friar said on Wednesday. OpenAI, in which Microsoft has invested more than $13 billion, outlined plans in December to convert its for-profit arm into a public benefit corporation (PBC), a structure designed to balance shareholder returns with social goals, unlike nonprofits, which are solely focused on public good. The ChatGPT-maker dialed back the plan earlier this month, giving the nonprofit parent control of the PBC through a big shareholding, while still allowing the for-profit arm to raise more capital to keep pace in the AI race. 'A PBC gets us to an IPO-able event … if and when we want to,' Friar told the Dublin Tech Summit. 'Nobody tweet in this room that Sarah Friar just said anything about OpenAI ultimately going public,' she added. 'I did not. I said it could happen.' Asked what would influence a decision, Friar said that as with any company planning to launch on the stock market, the company and markets would have to be ready. 'You can show up at the altar all ready to go, and if the market's not ready for you, yeah, you're just out of luck,' she said. 'Which is why you have to build a company that can be sustainable and safe regardless of where the public markets are, how open that window is.' To be a public company, 'you definitely need some sense of predictability,' Friar added. 'The market will put up with a certain degree of unpredictability. Particularly when growth is high … but the market doesn't really love it.' To give a sense of the 'massive' scale of capital that OpenAI might require, Friar said that while a 1 gigawatt data centre footprint costs about $50 billion, the company's 'appetite and ambition' over the next couple of years was to get closer to about 10 gigawatts. Friar singled out the rapidly growing AI search market as a priority and said that while the company would seek efficiencies, its focus was on finding the next breakthrough product. 'The search market is becoming a big market,' Friar said. 'In that world, I don't really want people spending an inordinate amount of time trying to save an extra 1% when I would rather they went out and kind of built the next state-of-the-art product.'
Time of India
2 days ago
- Business
- Time of India
OpenAI CFO says new structure opens door for potential IPO
OpenAI's restructuring plans position it for a potential future IPO, but any such decision would depend on the mood in public markets as well as the readiness of the company, chief financial officer Sarah Friar said on Wednesday. OpenAI, in which Microsoft has invested more than $13 billion, outlined plans in December to convert its for-profit arm into a public benefit corporation (PBC), a structure designed to balance shareholder returns with social goals, unlike non-profits, which are solely focused on public good. The ChatGPT-maker dialled back the plan earlier this month, giving the non-profit parent control of the PBC through a big shareholding, while still allowing the for-profit arm to raise more capital to keep pace in the AI race. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. Investructor Undo "A PBC gets us to an IPO-able event ... if and when we want to," Friar told the Dublin Tech Summit . "Nobody tweet in this room that Sarah Friar just said anything about OpenAI ultimately going public," she added. "I did not. I said it could happen." Live Events Asked what would influence a decision, Friar said that as with any company planning to launch on the stock market, the company and markets would have to be ready. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories "You can show up at the altar all ready to go, and if the market's not ready for you, yeah, you're just out of luck," she said. "Which is why you have to build a company that can be sustainable and safe regardless of where the public markets are, how open that window is." To be a public company, "you definitely need some sense of predictability," Friar added. "The market will put up with a certain degree of unpredictability. Particularly when growth is high ... but the market doesn't really love it." To give a sense of the "massive" scale of capital that OpenAI might require, Friar said that while a 1 gigawatt data centre footprint costs about $50 billion, the company's "appetite and ambition" over the next couple of years was to get closer to about 10 gigawatts. Friar singled out the rapidly growing AI search market as a priority and said that while the company would seek efficiencies, its focus was on finding the next breakthrough product. "The search market is becoming a big market," Friar said. "In that world, I don't really want people spending an inordinate amount of time trying to save an extra 1% when I would rather they went out and kind of built the next state-of-the-art product."
The Hindu
2 days ago
- Business
- The Hindu
OpenAI CFO says new structure opens door for potential IPO
OpenAI's restructuring plans position it for a potential future IPO, but any such decision would depend on the mood in public markets as well as the readiness of the company, Chief Financial Officer Sarah Friar said on Wednesday. OpenAI, in which Microsoft has invested more than $13 billion, outlined plans in December to convert its for-profit arm into a public benefit corporation (PBC), a structure designed to balance shareholder returns with social goals, unlike nonprofits, which are solely focused on public good. The ChatGPT-maker dialed back the plan earlier this month, giving the nonprofit parent control of the PBC through a big shareholding, while still allowing the for-profit arm to raise more capital to keep pace in the AI race. "A PBC gets us to an IPO-able event ... if and when we want to," Friar told the Dublin Tech Summit. "Nobody tweet in this room that Sarah Friar just said anything about OpenAI ultimately going public," she added. "I did not. I said it could happen." Asked what would influence a decision, Friar said that as with any company planning to launch on the stock market, the company and markets would have to be ready. "You can show up at the altar all ready to go, and if the market's not ready for you, yeah, you're just out of luck," she said. "Which is why you have to build a company that can be sustainable and safe regardless of where the public markets are, how open that window is." To be a public company, "you definitely need some sense of predictability," Friar added. "The market will put up with a certain degree of unpredictability. Particularly when growth is high ... but the market doesn't really love it." To give a sense of the "massive" scale of capital that OpenAI might require, Friar said that while a 1 gigawatt data centre footprint costs about $50 billion, the company's "appetite and ambition" over the next couple of years was to get closer to about 10 gigawatts. Friar singled out the rapidly growing AI search market as a priority and said that while the company would seek efficiencies, its focus was on finding the next breakthrough product. "The search market is becoming a big market," Friar said. "In that world, I don't really want people spending an inordinate amount of time trying to save an extra 1% when I would rather they went out and kind of built the next state-of-the-art product."
