OpenAI has appointed Mike Liberatore, formerly the finance chief at Elon Musk’s xAI, as its business finance officer.

Liberatore will manage OpenAI’s infrastructure spending and report to CFO Sarah Friar.

He will also collaborate with Greg Brockman’s team, which manages contracts and capital for OpenAI’s computing needs.

Liberatore left xAI in July after three months, during which he helped arrange both a US$5 billion debt sale and a US$5 billion equity raise partly backed by SpaceX, and approved data center expansion plans.

Before xAI, Liberatore worked in senior finance roles at Airbnb, SquareTrade, eBay, and PayPal.

OpenAI has been increasing its commitments to computing infrastructure, including a reported US$300 billion deal with Oracle.

The company was recently valued at US$500 billion and continues to be backed primarily by Microsoft.

🔗 Source: CNBC

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