#EquityStake

[enterprisewired]

OpenAI CEO Sam Altman Dismisses Reports of Equity Stake at All-Hands Meeting

[Source – business-standard.com]

At an all-hands meeting on Thursday, OpenAI CEO Sam Altman addressed rumors regarding his potential acquisition of a substantial equity stake in the company. Altman denied these claims, calling them “just not true,” according to an attendee who spoke on condition of anonymity. Alongside Altman, OpenAI’s Chief Financial Officer Sarah Friar also commented, noting that investors had raised concerns over Altman not having any equity in the highly valued artificial intelligence firm, which he co-founded nearly nine years ago.

No Plans for Equity Stake for Sam Altman

Sam Altman clarified that there are no current plans for him to receive an equity stake in OpenAI, despite ongoing discussions. “There are no current plans here,” Altman reportedly said during the meeting, which was conducted via video. OpenAI Chairman Bret Taylor further confirmed that while the board had considered compensating Altman with equity, no specific figures or decisions have been made. “The board has had discussions about whether it would be beneficial to the company and our mission to have Sam be compensated with equity, but no specific figures have been discussed nor have any decisions been made,” Taylor told CNBC in a statement.

OpenAI Faces Executive Departures Amid Restructuring Talks

The meeting also came on the heels of ongoing discussions within OpenAI’s board regarding a potential restructuring of the company. A source familiar with the situation revealed that OpenAI is considering shifting to a for-profit structure while retaining a separate non-profit entity. The changes, though not yet finalized, have been a topic of internal discussion for nearly a year.

Despite Altman denying any direct connection, the company has seen a series of high-profile executive departures. On Wednesday, Chief Technology Officer Mira Murati announced her departure after six and a half years with the company. She was followed by Research Chief Bob McGrew and Vice President of Research Barret Zoph. Sam Altman, speaking at Italian Tech Week on Thursday, stated, “I think this will be hopefully a great transition for everyone involved and I hope OpenAI will be stronger for it.”

Leadership Changes Amidst Expansion and Funding Round

Sam Altman dismissed reports suggesting that the executive exits were tied to the potential restructuring. Instead, he emphasized that the changes reflect individual choices and a shift toward a new generation of leadership. Murati, in a memo to employees, explained that she was stepping away to focus on personal exploration while ensuring a “smooth transition” for the company.

OpenAI has been navigating rapid growth since the launch of ChatGPT in 2022, which has catapulted the company into the spotlight. Backed by Microsoft, OpenAI is currently seeking a new funding round that could value the company at over $150 billion, with significant investments anticipated from Thrive Capital and Tiger Global. However, this fast-paced expansion has raised concerns among some employees about the safety and sustainability of the company’s growth.

Altman himself was briefly ousted in November, only to be reinstated days later following a strong outcry from OpenAI employees, nearly all of whom signed an open letter supporting him.

[lavishangle]

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[christinamac1]

Nuclear Free Local Authorities urge the UK's new Chancellor to scrap plan to invest in the Sizewell nuclear white elephant

Nuclear Free Local Authorities urge the UK’s new Chancellor to scrap plan to invest in the Sizewell nuclear white elephant

 Hot on the heels of the new Chancellor’s U-turn of everything hispredecessor held dear, the Chair of the Nuclear Free Local Authorities haswritten to Jeremy Hunt to urge him to reverse the promised investment of£700 million made by the previous prime minister on a flying-visit toSizewell C and to withdraw from making a commitment to taking an equitystake in the nuclear ‘white elephant’. In his…

[headlineenglish]

Reliance acquires majority stake in online pharma tech Netmeds The company has acquired an equity stake of 60%. http://www.headlineenglish.com/featured/reliance-acquires-majority-stake-in-online-pharma-tech-netmeds/?feed_id=8061&_unique_id=5f3ccee083be4 #equitystakes #ishaambani #netmeds #relianceretail