SEC reportedly investigating OpenAI CEO Sam Altman’s communications
Regulators looking into whether OpenAI investors were misled
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The Securities and Exchange Commission is reportedly investigating whether investors in artificial intelligence startup OpenAI were misled.
The regulator subpoenaed the ChatGPT creator in December, seeking the communications of past and present board members and executives, including those of CEO Sam Altman, The Wall Street Journal reported Thursday, citing people familiar with the matter.
Sam Altman at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, Nov. 16, 2023. (Carlos Barria/File Photo / Reuters Photos)
An OpenAI spokesperson did not immediately respond to FOX Business' request for comment on the report.
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The SEC's request followed OpenAI's drama from November, when the previous board fired Altman, a co-founder of the organization, for failing to be "consistently candid in his communications." The shocking ouster of Altman resulted in an employee revolt, and within days, a new board was appointed and Altman returned to the helm.
The SEC is investigating whether OpenAI investors were misled, The Wall Street Journal reported Thursday. (CFOTO/Future Publishing via / Getty Images)
The Journal said some sources described the investigation as a predictable response to the former board's claim in its November statement. The report, citing a source, added that the SEC has not pointed to any specific statement or communication by Altman that it has deemed misleading.
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The probe comes as Altman is reportedly in talks to raise billions of dollars for a chip venture.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 430.98 | +7.52 | +1.78% |
Microsoft, Inc.
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OpenAI also recently completed a deal that values the Microsoft-backed startup at $80 billion or more, the New York Times reported earlier this month.
Reuters contributed to this report.