ChatGPT-Creator OpenAI CEO Sam Altman Says No Immediate Plans To Go Public: Here's Why

OpenAI has already secured $10 billion in funding from Microsoft, valuing the company at nearly $30 billion.

Altman and other prominent scientists involved in the development and promotion of AI technology have consistently emphasised the potential risks.

Source : Getty

OpenAI, the company supported by Microsoft and responsible for ChatGPT, has no immediate plans to go public, according to Chief Executive Sam Altman. During a conference in Abu Dhabi, Altman expressed his concerns about the potential consequences of developing superintelligent AI and the decisions it may make, which could be viewed unfavourably by investors and the public market. As a result, Altman stated that OpenAI is not particularly interested in taking the company public, as reported by Reuters.

OpenAI has already secured $10 billion in funding from Microsoft, valuing the company at nearly $30 billion. This investment has allowed OpenAI to focus on expanding its computing capabilities. Altman explained that OpenAI has a unique structure, incorporating a "capped-profit" model. Initially established as a non-profit organisation, OpenAI evolved into a hybrid entity that could raise external funds while ensuring the benefits continue to extend to the original non-profit operation.

Altman and other prominent scientists involved in the development and promotion of AI technology have consistently emphasised the potential risks, particularly concerning generative AI models like ChatGPT. Some have even compared these models to threats on an existential level, advocating for regulatory measures. Altman is currently engaged in a global tour, meeting with heads of state from various countries. His recent visit to the United Arab Emirates will be followed by trips to Qatar, India, and South Korea.

During his time in Europe, Altman stirred controversy by suggesting that OpenAI might relocate if compliance with upcoming AI regulations becomes overly challenging. This statement drew criticism from several lawmakers, including EU industry chief Thierry Breton. However, OpenAI later reversed its stance on the matter. Altman clarified that OpenAI did not threaten to leave the EU and expressed the company's eagerness to operate within Europe while awaiting further clarity on the EU AI Act.

The European Union is currently developing a comprehensive framework for regulating AI, including proposals that would mandate companies utilising tools like ChatGPT to disclose the copyrighted material used to train their systems. OpenAI does not currently disclose such data regarding its latest AI model, GPT-4. Despite the challenges and debates surrounding AI, Altman found support from EU tech chief Margrethe Vestager, who interpreted Altman's comments not as a threat but as a commitment to doing their best.

Altman emphasised that the growth of AI will revolutionise various industries, surpassing the capabilities of current AI models like GPT-4. He predicted that future AI systems would incorporate images, audio, video, text, and computer programming, presenting a vast array of possibilities. While concerns exist about job displacement due to AI, Altman noted that future jobs would be significantly different from those today, highlighting the potential for new opportunities in this evolving landscape.

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