Sam Altman announced his departure from OpenAI last week.
What is going on inside big AI firms ???
"OpenAI as we knew it is dead: Why the AI giant went for-profit | Vox" https://t.co/1qP2Y6v4pY
— Antonio Estella (@AntonioEstella) September 29, 2024
In a post on X (formerly Twitter), Altman wrote, “I’m stepping away because I want to create the time and space to do my own exploration.” Altman had been with OpenAI for nine years, overseeing the development of the company’s flagship products, ChatGPT and Dall-E. His departure has sparked significant interest from venture capitalists.
“We’re trying to get in front of him,” said one venture investor. “I cold-emailed him,” another investor added. Altman has not responded to requests for comment.
At an all-hands last week, @sama denied he'll get equity, though investors are “pushing hard." A source told Fortune that Altman said "if they don’t understand the intrinsic motivation of getting to helpful AGI faster then they shouldn’t be investing,”https://t.co/v1IB9ypGqj
— Sharon Goldman (@sharongoldman) September 30, 2024
Crazy thought, bear with me: OpenAI’s financing docs per @MikeIsaac @nytimes basically hinge on the company becoming a for-profit. If they don’t, a poison pill kicks in and the new financing becomes convertible debt. (Not good, as @paulg recently noted.)
Open’s AI attempted…
— Gary Marcus (@GaryMarcus) September 28, 2024
OpenAI Chair Bret Taylor commented on X about Altman’s exit, acknowledging the abrupt nature of his departure but understanding his reasons for wanting to leave while the company is in a strong position. This comes amid a flurry of activity at OpenAI. The company recently attracted a $1 billion investment from Thrive Capital, raising its valuation to $150 billion.
Altman’s exit and future endeavors
Other investors include SoftBank, Coatue, and Microsoft. The company is restructuring from a nonprofit subsidiary to a for-profit benefit corporation.
Altman’s departure follows those of other key technical executives: Mira Murati, chief technology officer, Bob McGrew, chief research officer, and Barret Zoph, vice president of research. This leaves Wojciech Zaremba as the remaining member of the original 11-person founding team. Zaremba noted the changes in a reflective post on X, drawing a metaphor to historical hardships and the resilience required to move forward.
Altman joined OpenAI in 2015 as a co-founder and CEO. His tenure at OpenAI was marked by significant advancements in AI technology, and many are eager to see what direction he will take next. Read next: Watch OpenAI’s transition after Altman’s recent leadership shift.
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