‘Very Strange’ Corporate Structure Rules Out OpenAI IPO

Investors looking to cash in on an OpenAI IPO are in for a disappointment, with CEO Sam Altman saying the company's structure rules it out for now....
‘Very Strange’ Corporate Structure Rules Out OpenAI IPO
Written by WebProNews

Investors looking to cash in on an OpenAI IPO are in for a disappointment, with CEO Sam Altman saying the company’s structure rules it out for now.

OpenAI is one of the leading AI firms, with its technology serving as the backbone of Microsoft’s Bing AI. While investors may be bullish on AI, and OpenAI in particular, there doesn’t appear to be an IPO in the near future.

“When we develop super intelligence, we are likely to make some decisions that most investors would look at very strangely,” Altman said at an Abu Dhabi conference, according to Reuters.

“I don’t want to be sued by … public market, Wall Street etc, so no, not that interested,” he said in response regarding a possible IPO.

“We have a very strange structure. We have this cap to profit thing,” he added.

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