Brad Gerstner

Here's a direct quote, the backstop, the guarantee that allows the financing to happen.

And she said that the federal guarantees would, quote, really drop the cost of finance.

Of course it would.

And this would allow OpenAI to borrow more money at lower rates from a much larger pool of lenders.

That went viral.

And everybody said, oh, my God.

It started feeding, I think, the narrative that maybe OpenAI is insolvent, in fact, and there's no way for them to pay their bills, which obviously is a little bit ridiculous.

And people are trying to correlate this to obviously the dot-com bust and then the great financial crisis.

But on Wednesday night, Fryer walked back her comments.

I want to clarify my comments.

OpenAI is not seeking a government backstop.

for our infrastructure commitments.

I used the word, quote, backstop, and it muddied the point.

I was making the point that American strength and technology will come from building real industrial capacity, which requires the private sector and government playing their part.

And she also said that opening AI was on pace to generate 13 billion.

I'll get to you on this one, Brad, because he took offense to the $13 billion revenue number and disputed that.

So we'll see if there's some clarity there.

But Sachs, you came over the top and tweeted that there will be

No federal bailout.

There's plenty of people available to pick up the mantle if OpenAI needed a bailout.