Sam Altman, the CEO of OpenAI, the company behind the ChatGPT chatbot, stated that the Microsoft-backed organization does not intend to go public anytime soon. At a conference held in Abu Dhabi, Altman remarked, "When we develop superintelligence, we will likely make decisions that most investors will find extremely puzzling." In response to a question about whether the company would go public, he said, "I don't want to be judged by the public market and Wall Street and so forth, so no, I'm not interested."
OpenAI has thus far received ten billion dollars from Microsoft as part of its expansion in investment to build computing capabilities. Altman mentioned, "We have a very strange structure. We have a cap on profit." OpenAI started as a non-profit organization before later establishing a "capped profit" entity, which allowed it to gather external funding while promising to maintain the operations of the non-profit organization.
Earlier, Sam Altman warned that artificial intelligence poses an "existential risk" to humanity, calling for the International Atomic Energy Agency to oversee this technology and for protective laws to be established.
