New Delhi (India), 7th June 2023: OpenAI CEO Sam Altman stated on Tuesday that the company has no intentions to go public anytime soon.
In response to a query about whether he will make OpenAI public, Altman stated, “I don’t want to be sued by … public market, Wall Street etc, so no, not that interested.”
The OpenAI CEO was addressing a conference in Abu Dhabi.
He further said, “When we develop super intelligence, we are likely to make some decisions that most investors would look at very strangely.”
As it invests more in processing capacity, OpenAI has raised $10 billion from Microsoft at a valuation of around $30 billion.
He said, “We have a very strange structure. We have this cap to profit thing.”
OpenAI began as a non-profit organisation, but eventually evolved into a hybrid “capped-profit” corporation, allowing it to raise external funding while ensuring that the original non-profit operation continues to benefit.
