The U.S. Securities and Exchange Commission (SEC) is currently investigating Sam Altman, the CEO of OpenAI, over concerns of potential investor misinformation. The probe was triggered by internal communications scrutinized by the SEC. Subsequently, the SEC issued subpoenas for records from present and past officials and directors of OpenAI, the entity behind ChatGPT.
Initiated after the OpenAI board’s decision to oust Altman as CEO and board member due to alleged communication opacity hindering their responsibilities, the investigation centers on the preservation of internal documents by senior executives. Although specific misleading comments by Altman have not been pinpointed, the inquiry is linked to the board’s claims.
Despite his removal, Altman was swiftly reinstated coinciding with the formation of a new board headed by former Salesforce co-CEO Bret Taylor. This development occurred amid reports of OpenAI‘s valuation surpassing $80 billion and Altman’s pursuit of funding for an AI-enhancing chip venture.
In tandem, Microsoft, a significant investor in OpenAI‘s for-profit branch, committed $13 billion, securing a 49% stake in its earnings through a multi-year arrangement. The SEC’s scrutiny unfolds amidst substantial financial transactions and strategic shifts within OpenAI.
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