OpenAI's shares sale is at risk with th firing of CEO Sam Altman (AFP)News 

Altman’s Firing Puts OpenAI’s $86 Billion Share Sale in Peril

According to a report from the Information, the future of a proposed sale of OpenAI employee shares, which would potentially value the startup at approximately $86 billion, is uncertain due to the unexpected termination of CEO Sam Altman and the departure of several high-ranking executives.

The Thrive Capital-led takeover bid has not yet closed, but has been in the final stages and is expected to close next month, the report added, citing a person familiar with the matter.

OpenAI and Thrive Capital did not immediately respond to Reuters requests for comment.

The news comes after Altman was fired by the board of the company behind ChatGPT on Friday.

Greg Brockman, OpenAI’s chairman and co-founder, who stepped down as chairman as part of a management shakeup, resigned from the company.

The departure blindsided many employees, who noticed the sudden change in management from an internal message and the company’s public blog.

Backed by billions of dollars from Microsoft, which has no seat in the startup’s nonprofit association, OpenAI kicked off the generative AI craze last November with the release of ChatGPT.

Related posts

Leave a Comment