OpenAI CFO tells investors funding round should close by next week despite executive departures
OpenAI’s Sora AI tool allows users to create AI-generated videos from text-based inputs.
Costfoto | Nurphoto | Getty Images
OpenAI CFO Sarah Friar is looking to reassure its investors that the richly valued artificial intelligence startup is still in a strong position and is poised to close a big funding round soon, despite losing top talent this week.
In an email to OpenAI’s investors seen by CNBC, Friar addressed the departure of Chief Technology Officer Mira Murati, who announced her departure on Wednesday. Later that day, Sam Altman said two top research executives, Bob McGrew and Barret Zoph, were also leaving.
“I wanted to personally reach out following the news of Mira’s departure from OpenAI,” Friar wrote in the letter, which was viewed by CNBC. “While leadership changes are never easy, I want to ensure you have the full context.”
Friar added that, “We are incredibly proud of everything she’s helped build,” and said the San Francisco-based company still has a “talented leadership bench” to compete.
OpenAI, which is backed by Microsoft and recently partnered with Apple on its AI for iPhones, is in the midst of closing a $6.5 billion funding round, which should value the company at roughly $150 billion, according to sources familiar with the matter. Thrive Capital is leading the round, and plans to invest $1 billion, according to sources.
Friar said in the email that the funding round was oversubscribed and would close by next week. She said the team plans to host a series of calls with investors to introduce the group to key leaders from product and research teams.
“Collectively, we remain laser-focused on bringing AI to everyone and building sustainable revenue models that fuel our operations and deliver value to our investors and employees,” Friar wrote. The company is “excited for you to be with us as we enter our next chapter,” she wrote.
OpenAI declined to comment on the email.
Murati’s departure comes after six and a half years at the company. She briefly served as interim CEO last year after the board of directors abruptly fired Altman. When Altman was quickly reinstated, Murati returned to the role of CTO.
Sarah Friar has been named OpenAI CFO
Anjali Sundaram | CNBC
The company was already dealing with the loss of key executives. Co-founder John Schulman and safety chief Jan Leike left to join rival Anthropic. Co-founder Ilya Sutskever left to start another AI company , while another founder, Greg Brockman, is on a leave of absence.
Friar said Mark Chen will step into the role of of senior vice president of research, and leaders like Kevin Weil, who joined from Meta, and Srinivas Narayanan are the “right people to keep pushing the boundaries of innovation.”
Friar was formerly CEO of Nextdoor, and before that CFO at Block, formerly Square.
Also on Thursday, at an all-hands meeting, Altman denied that there are plans for him to receive a “giant equity stake” in the company, calling reports of such a development “just not true,” according to a person who was in attendance.
Altman and Friar both said at the meeting, conducted by video, that investors have raised concerns about Altman not having equity in the company that he co-founded almost nine years ago, said the person, who asked not to be named because the gathering was only for employees.
Chief executive officer of Google Sundar Pichai.
Marek Antoni Iwanczuk | Sopa Images | Lightrocket | Getty Images
Google on Friday made the latest a splash in the AI talent wars, announcing an agreement to bring in Varun Mohan, co-founder and CEO of artificial intelligence coding startup Windsurf.
As part of the deal, Google will also hire other senior Windsurf research and development employees. Google is not investing in Windsurf, but the search giant will take a nonexclusive license to certain Windsurf technology, according to a person familiar with the matter. Windsurf remains free to license its technology to others.
“We’re excited to welcome some top AI coding talent from Windsurf’s team to Google DeepMind to advance our work in agentic coding,” a Google spokesperson wrote in an email. “We’re excited to continue bringing the benefits of Gemini to software developers everywhere.”
The deal between Google and Windsurf comes after the AI coding startup had been in talks with OpenAI for a $3 billion acquisition deal, CNBC reported in April. OpenAI did not immediately respond to a request for comment.
The move ratchets up the talent war in AI particularly among prominent companies. Meta has made lucrative job offers to several employees at OpenAI in recent weeks. Most notably, the Facebook parent added Scale AI founder Alexandr Wang to lead its AI strategy as part of a $14.3 billion investment into his startup.
Douglas Chen, another Windsurf co-founder, will be among those joining Google in the deal, Jeff Wang, the startup’s new interim CEO and its head of business for the past two years, wrote in a post on X.
“Most of Windsurf’s world-class team will continue to build the Windsurf product with the goal of maximizing its impact in the enterprise,” Wang wrote.
Windsurf has become more popular this year as an option for so-called vibe coding, which is the process of using new age AI tools to write code. Developers and non-developers have embraced the concept, leading to more revenue for Windsurf and competitors, such as Cursor, which OpenAI also looked at buying. All the interest has led investors to assign higher valuations to the startups.
This isn’t the first time Google has hired select people out of a startup. It did the same with Character.AI last summer. Amazon and Microsoft have also absorbed AI talent in this fashion, with the Adept and Inflection deals, respectively.
Microsoft is pushing an agent mode in its Visual Studio Code editor for vibe coding. In April, Microsoft CEO Satya Nadella said AI is composing as much of 30% of his company’s code.
The Verge reported the Google-Windsurf deal earlier on Friday.
Technology
Nvidia’s Jensen Huang sells more than $36 million in stock, catches Warren Buffett in net worth
Jensen Huang, CEO of Nvidia, holds a motherboard as he speaks during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, on June 11, 2025.
Gonzalo Fuentes | Reuters
Nvidia CEO Jensen Huang unloaded roughly $36.4 million worth of stock in the leading artificial intelligence chipmaker, according to a U.S. Securities and Exchange Commission filing.
The sale, which totals 225,000 shares, comes as part of Huang’s previously adopted plan in March to unload up to 6 million shares of Nvidia through the end of the year. He sold his first batch of stock from the agreement in June, equaling about $15 million.
Last year, the tech executive sold about $700 million worth of shares as part of a prearranged plan. Nvidia stock climbed about 1% Friday.
Huang’s net worth has skyrocketed as investors bet on Nvidia’s AI dominance and graphics processing units powering large language models.
The 62-year-old’s wealth has grown by more than a quarter, or about $29 billion, since the start of 2025 alone, based on Bloomberg’s Billionaires Index. His net worth last stood at $143 billion in the index, putting him neck-and-neck with Berkshire Hathaway‘s Warren Buffett at $144 billion.
Shortly after the market opened Friday, Fortune‘s analysis of net worth had Huang ahead of Buffett, with the Nvidia CEO at $143.7 billion and the Oracle of Omaha at $142.1 billion.
The company has also achieved its own notable milestones this year, as it prospers off the AI boom.
On Wednesday, the Santa Clara, California-based chipmaker became the first company to top a $4 trillion market capitalization, beating out both Microsoft and Apple. The chipmaker closed above that milestone Thursday as CNBC reported that the technology titan met with President Donald Trump.
Brooke Seawell, venture partner at New Enterprise Associates, sold about $24 million worth of Nvidia shares, according to an SEC filing. Seawell has been on the company’s board since 1997, according to the company.
Huang still holds more than 858 million shares of Nvidia, both directly and indirectly, in different partnerships and trusts.
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