Written By Shubham Verma
OpenAI CEO Sam Altman does not plan to take company public
OpenAI has so far raised $10 billion from Microsoft at a valuation of almost $30 billion, which is approximately Rs 2,476 trillion.
Published By: Shubham Verma | Published: Jun 06, 2023, 08:26 PM (IST)
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: ChatGPT now works on Apple CarPlay: Here’s how to enable it, supported devices
“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 working on Spud AI Model: A big step closer to AGI breakthrough
“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: ChatGPT is turning into an app hub, can it rival Apple’s App Store?
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.
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— Reuters
