As investors are growing increasingly concerned over an AI bubble, triggering a major tech selloff earlier this week, OpenAI is still in full-steam-ahead mode.

During the Wall Street Journal‘s Tech Live conference on Wednesday, the ChatGPT maker’s chief financial officer Sarah Friar revealed that the company has no plans of going public, contradicting rumors.

“IPO is not on the cards right now,” she said at the event. “We are continuing to get the company into a state of constantly stepping up into the scale we are at, so I don’t want to get wrapped around an IPO axle.”

And as the company eschews a public listing, Friar said that it’s looking to create an “ecosystem of banks, private equity, maybe even governmental” so it can take on even more debt.

She hinted that the US government co

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