OpenAI CEO Sam Altman Responds: Denies Rumors of 7% Equity Stake

Home Hardware OpenAI CEO Sam Altman Responds: Denies Rumors of 7% Equity Stake

Updated on September 29 2024

During the full meeting on September 29, OpenAI CEO Sam Altman categorically denied rumors regarding his potential acquisition of a substantial equity stake in the company, calling the reports “completely inaccurate.”

Addressing speculation about possible equity ownership, Altman stated, “There are currently no such plans.” OpenAI Chairman Bret Taylor added that while the board has indeed discussed the possibility of offering Altman equity compensation, a final decision has not yet been reached.

Previously, The Wall Street Journal reported that sources indicated OpenAI was considering granting Altman a 7% stake in the company and was planning to restructure as a profit-driven entity to boost profitability and create a positive social impact.

OpenAI is currently seeking a new round of funding, with the company’s valuation anticipated to exceed $150 billion.

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