United States SEC Commission Investigates OpenAI Executives & CEO Sam Altman on Misleading Investors, Elon Musk Files Lawsuit Against OpenAI, CEO Sam Altman & Microsoft for Breach of Contract on Founding Mission of Company to Form a Non-Profit Lab to Develop Artificial Intelligence for Benefit of Humanity But Pursing a Profit-Driven Company Direction, OpenAI Valued at $90 Billion
2nd March 2024 | Hong Kong
The United States Securities & Exchange Commission (SEC) has been reported to be investigating OpenAI executives & CEO Sam Altman if they had misled investors, with Elon Musk filing a lawsuit against OpenAI, CEO Sam Altman & Microsoft for breach of contract on the founding mission of company to form a non-profit lab to develop artificial intelligence for benefit of humanity, but now pursuing a profiting-driven company direction. OpenAI has been reported to be valued at around $90 billion (2023 December). In December 2023, ChatGPT parent OpenAI & Microsoft had been sued by The New York Times for copyright infringement including using New York Times’ intellectual properties to train & benefit OpenAI artificial intelligence technology. The lawsuit was filed in United States (U.S. District Court for the Southern District of New York), with New York Times represented by litigation firm Susman Godfrey LLP. In September 2023, ChatGPT parent OpenAI is currently in talks for a share sale at $80 billion to $90 billion valuation and expects to generate $1 billion revenue in 2023. Microsoft currently owns 49% of shareholding in OpenAI. OpenAI is an AI research and deployment company. In November 2023, OpenAI fired co-founder & CEO Sam Altman ($500 million fortune) with immediate effect for not being consistent in communicating to the board and appoints CTO Mira Murati as Interim CEO. On 29th November 2023, OpenAI announced the returning of Sam Altman as CEO, with new board members Bret Taylor (Chair), Larry Summers, and Adam D’Angelo. More info below:
“ United States SEC Commission Investigates OpenAI Executives & CEO Sam Altman on Misleading Investors, Elon Musk Files Lawsuit Against OpenAI, CEO Sam Altman & Microsoft for Breach of Contract on Founding Mission of Company to Form a Non-Profit Lab to Develop Artificial Intelligence for Benefit of Humanity But Pursing a Profit-Driven Company Direction, OpenAI Valued at $90 Billion “
$90 Billion ChatGPT Parent OpenAI & Microsoft Sued by New York Times for Copyright Infringement Including Using New York Times Intellectual Properties to Train & Benefit OpenAI Artificial Intelligence Technology
28th December 2023 – $90 billion ChatGPT parent OpenAI & Microsoft have been sued by The New York Times for copyright infringement including using New York Times’ intellectual properties to train & benefit OpenAI artificial intelligence technology. The lawsuit was filed in United States (U.S. District Court for the Southern District of New York), with New York Times represented by litigation firm Susman Godfrey LLP. In September 2023, ChatGPT parent OpenAI is currently in talks for a share sale at $80 billion to $90 billion valuation and expects to generate $1 billion revenue in 2023. Microsoft currently owns 49% of shareholding in OpenAI. OpenAI is an AI research and deployment company. In November 2023, OpenAI fired co-founder & CEO Sam Altman ($500 million fortune) with immediate effect for not being consistent in communicating to the board and appoints CTO Mira Murati as Interim CEO. On 29th November 2023, OpenAI announced the returning of Sam Altman as CEO, with new board members Bret Taylor (Chair), Larry Summers, and Adam D’Angelo. More info below:
ChatGPT Parent OpenAI Fires Co-founder & CEO Sam Altman for Not Being Consistent in Communicating to the Board & Appoints CTO Mira Murati as Interim CEO, Share Sale at $80 Billion to $90 Billion Valuation & Expects to Generate $1 Billion Revenue in 2023, Microsoft Owns 49% Shareholding in OpenAI
18th November 2023 – ChatGPT parent OpenAI has fired co-founder & CEO Sam Altman ($500 million fortune) with immediate effect for not being consistent in communicating to the board and appoints CTO Mira Murati as Interim CEO. OpenAI: “Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. The board no longer has confidence in his ability to continue leading OpenAI.” Board of Directors: “OpenAI was deliberately structured to advance our mission: to ensure that artificial general intelligence benefits all humanity. The board remains fully committed to serving this mission. We are grateful for Sam’s many contributions to the founding and growth of OpenAI. At the same time, we believe new leadership is necessary as we move forward. As the leader of the company’s research, product, and safety functions, Mira is exceptionally qualified to step into the role of interim CEO. We have the utmost confidence in her ability to lead OpenAI during this transition period. OpenAI’s board of directors consists of OpenAI chief scientist Ilya Sutskever, independent directors Quora CEO Adam D’Angelo, technology entrepreneur Tasha McCauley, and Georgetown Center for Security and Emerging Technology’s Helen Toner. As a part of this transition, Greg Brockman will be stepping down as chairman of the board and will remain in his role at the company, reporting to the CEO.” In September 2023, ChatGPT parent OpenAI is in talks for a share sale at $80 billion to $90 billion valuation and expects to generate $1 billion revenue in 2023. Microsoft currently owns 49% of shareholding in OpenAI. OpenAI is an AI research and deployment company. Earlier in May 2023, the creator of ChatGPT startup OpenAI was reported to had raised $300 million at $27 billion to $29 billion valuation in addition to Microsoft $10 billion strategic investment in January 2023. The investors in the $300 million round include Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global. OpenAI has been reported to have a net loss of $540 million in 2022. Wiki: “OpenAI was founded in 2015 by Ilya Sutskever, Greg Brockman, Trevor Blackwell, Vicki Cheung, Andrej Karpathy, Durk Kingma, John Schulman, Pamela Vagata, and Wojciech Zaremba, with Sam Altman and Elon Musk serving as the initial board members. In December 2015, Sam Altman, Greg Brockman, Reid Hoffman, Jessica Livingston, Peter Thiel, Elon Musk, Amazon Web Services (AWS), Infosys, and YC Research announced the formation of OpenAI and pledged over $1 billion to the venture.”
ChatGPT Parent OpenAI in Talks for Share Sale at $80 Billion to $90 Billion Valuation & Expects to Generate $1 Billion Revenue in 2023, Microsoft Owns 49% Shareholding in OpenAI
30th September 2023 – ChatGPT parent OpenAI is currently in talks for a share sale at $80 billion to $90 billion valuation and expects to generate $1 billion revenue in 2023. Microsoft currently owns 49% of shareholding in OpenAI. OpenAI is an AI research and deployment company.
Creator of ChatGPT Startup OpenAI Raised $300 Million at $27 Billion to $29 Billion Valuation in Addition to Microsoft $10 Billion Strategic Investment in January 2023, Investors Include Sequoia Capital, Andreessen Horowitz, Thrive & K2 Global
6th May 2023 – Earlier in May 2023, the creator of ChatGPT startup OpenAI was reported to had raised $300 million at $27 billion to $29 billion valuation in addition to Microsoft $10 billion strategic investment in January 2023. The investors in the $300 million round include Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global. OpenAI has been reported to have a net loss of $540 million in 2022. Wiki: “OpenAI was founded in 2015 by Ilya Sutskever, Greg Brockman, Trevor Blackwell, Vicki Cheung, Andrej Karpathy, Durk Kingma, John Schulman, Pamela Vagata, and Wojciech Zaremba, with Sam Altman and Elon Musk serving as the initial board members. In December 2015, Sam Altman, Greg Brockman, Reid Hoffman, Jessica Livingston, Peter Thiel, Elon Musk, Amazon Web Services (AWS), Infosys, and YC Research announced the formation of OpenAI and pledged over $1 billion to the venture.”
OpenAI was founded as a non-profit in 2015 with the core mission of ensuring that artificial general intelligence benefits all of humanity. In 2019, OpenAI restructured to ensure that the company could raise capital in pursuit of this mission, while preserving the nonprofit’s mission, governance, and oversight. The majority of the board is independent, and the independent directors do not hold equity in OpenAI. While the company has experienced dramatic growth, it remains the fundamental governance responsibility of the board to advance OpenAI’s mission and preserve the principles of its Charter.
OpenAI is an AI research and deployment company dedicated to ensuring that general-purpose artificial intelligence benefits all of humanity. AI is an extremely powerful tool that must be created with safety and human needs at its core. OpenAI is dedicated to putting that alignment of interests first — ahead of profit. To achieve our mission, we must encompass and value the many different perspectives, voices, and experiences that form the full spectrum of humanity. Our investment in diversity, equity, and inclusion is ongoing, executed through a wide range of initiatives, and championed and supported by leadership. At OpenAI, we believe artificial intelligence has the potential to help people solve immense global challenges, and we want the upside of AI to be widely shared. Join us in shaping the future of technology.
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