OpenAI to Press Ahead with Data‑Center Funding Despite Midterm Voter Opposition

What Happened

OpenAI CFO Sarah Friar said the company will keep putting money into AI data centers even after midterm voters in 41 local ballot measures across 10 states voted against new data‑center projects, according to Ballotpedia analysis.

Reaction

In an interview at the Citi TMT Leadership Summit in Pebble Beach, California, Friar said the election will not alter OpenAI’s push to meet strong customer demand. She noted the firm will continue raising capital and building trust with communities. She also pointed to OpenAI’s new policy blueprint that promises future commitments for its data centres. Investors have grown wary of AI after higher borrowing costs, rising debt and public backlash; the Nasdaq fell its steepest in 19 months on Thursday, led by chip and cloud stocks, before a modest rebound on Friday.

What's Next

OpenAI filed a confidential prospectus with the SEC in June and is eyeing a possible 2027 public debut. The company is negotiating a financing round at a $1.25 billion pre‑money valuation, has locked in an initial $11 billion and may raise another $9 billion. Rival Anthropic, which reported a 1,200% revenue jump to $33.2 billion and $895.4 billion in compute‑related spend commitments, plans to list on Nasdaq in mid‑November.

Context

Data centres are essential for training AI but face voter worries about environmental impact, electricity bills and job loss. The sector’s financing is tighter and public sentiment tougher, shaping how companies like OpenAI plan future investment.