OpenAI CEO says company has no plans to go public, citing concerns about superintelligence decisions and company structure

    Chief Executive Sam Altman

    6th June 2023 – (New York) OpenAI, the company behind ChatGPT and backed by Microsoft, has no plans to go public anytime soon, according to Chief Executive Sam Altman. Altman cited concerns about potential legal issues that could arise from decisions made by superintelligence, as well as the company’s “capped-profit” structure, as reasons for not pursuing an IPO.

    OpenAI has raised $10 billion from Microsoft, with a valuation of almost $30 billion, and continues to invest in computing capacity. The company began as a non-profit organisation but later adopted a hybrid “capped-profit” structure that allows for external funding while still benefiting the original non-profit operation.ShareLike