OpenAI CEO Sam Altman does not plan to take company public

Microsoft-backed OpenAI, the company behind ChatGPT, has no plans to go public any time soon, Chief Executive Sam Altman said at a conference in Abu Dhabi. Also Read: OpenAI CONFIRMS ChatGPT Data Leak Mixpanel Breach: Should You Worry?

“When we develop super intelligence, we are likely to make some decisions that most investors would look at very strangely,” Altman said. Also Read: OpenAI Denies Wrongdoing In Teen Suicide Suit, Says ChatGPT Urged Teen To Seek Help

“I don’t want to be sued by … public market, Wall Street etc, so no, not that interested,” he replied to a question on whether he will take OpenAI public. Also Read: OpenAI Brings ChatGPT Voice Into Every Chat With Real-Time Maps And Transcripts

OpenAI has so far raised $10 billion from Microsoft at a valuation of almost $30 billion (which is approximately Rs 2,476 trillion) as it invests more on building computing capacity.

“We have a very strange structure. We have this cap to profit thing,” he said.

OpenAI started off as a non-profit organisation but later created a hybrid “capped-profit” company, that allowed it to raise external funds with a promise that the original non-profit operation still benefits.

— Reuters