The change came after Altman’s ownership of the OpenAI Startup Fund raised eyebrows for its unusual structure
OpenAI has changed the governance structure of its venture capital fund that backs AI startups, so its high profile chief executive Sam Altman no longer owns or controls the fund, according to a filing with the US Securities and Exchange Commission .
Axios first reported on the ownership change on Monday. In a statement, a spokesperson for OpenAI said the fund’s initial general partner structure was a temporary arrangement, and “this change provides further clarity.” Control of the fund has been moved over to Ian Hathaway, a partner at the fund since 2021, according to the filing. Altman will no longer be a general partner at the fund.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk sues OpenAI and Sam Altman, saying startup abandoned its mission to serve humanityFILE - Elon Musk, Tesla CEO, attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, March 22, 2022. Musk said during a presentation Wednesday, Dec. 1, 2022, that his Neuralink company is seeking permission to test its brain implant in people soon.
Read more »
Sam Altman Reinstated To OpenAI Board Following InvestigationThe ChatGPT maker said it has 'full confidence' in his leadership after he was abruptly fired and rehired in November.
Read more »
OpenAI has 'full confidence' in CEO Sam Altman after investigation, reinstates him to boardOpenAI is reinstating CEO Sam Altman to its board of directors and said it has 'full confidence' in his leadership after the conclusion of an outside investigation into the company's turmoil.
Read more »
OpenAI Courts Hollywood in Meetings With Film Studios, DirectorsOpenAI wants to break into the movie business.
Read more »
OpenAI Previews New Audio Tool That Can Read Text, Mimic VoicesThe startup has decided not to release the feature more broadly due to safety concerns.
Read more »
OpenAI to Open New Office in Tokyo as Part of Global ExpansionOpenAI plans to open an office in Tokyo in April, according to a person familiar with the matter, as the artificial intelligence pioneer begins to build out its international operations.
Read more »