Daily Management Review

SEC investigates head of OpenAI Altman


According to The Wall Street Journal, which cites sources, Sam Altman, the CEO of ChatGPT chatbot developer OpenAI, is the subject of an investigation by the US Securities and Exchange Commission (SEC).

Saül Gordillo
Saül Gordillo
The regulator has asked current and former OpenAI officials as well as board members for internal papers because it believes Altman misled investors.

The probe, according to some of the newspaper's sources, is a response to remarks made by the company's board in November of last year, when Altman was dismissed as CEO and kicked off the board on the grounds that he "has not been consistently honest." One of the individuals points out that the SEC does not elaborate on the precise details of Altman's remarks that might have deceived investors. 

Altman was back at the helm of OpenAI less than two weeks after his dismissal. He was not on the board of directors that was renewed.

At the two new board members' request, the law firm WilmerHale is looking into Altman's termination, as well as the board's and the CEO's own conduct. It is expected that the probe will be finished in a few weeks.

source: wsj.com