I wrote yesterday about reports that the US Securities and Exchange Commission might be looking into whether OpenAI or its founder and chief executive officer, Sam Altman, might have misled its investors. Late last year, OpenAI’s board briefly fired Altman for not being “consistently candid,” and then reversed course and fired itself instead. So there is some reason to believe that somebody wasn’t candid about something.

I had my doubts that it would rise to the level of securities fraud, though. For one thing, OpenAI is a nonprofit organization, and even its for-profit subsidiary, OpenAI Global LLC, which has raised money from investors, isn’t all that for-profit. I wrote:

QOSHE - OpenAI Isn’t Open Enough for Elon - Matt Levine
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OpenAI Isn’t Open Enough for Elon

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02.03.2024

I wrote yesterday about reports that the US Securities and Exchange Commission might be looking into whether OpenAI or its founder and chief executive officer, Sam Altman,........

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