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The Securities and Exchange Commission is reportedly investigating whether Sam Altman misled OpenAI’s small coterie of wealthy investors.
Altman was dismissed, and then brought back, as head of the company that produces ChatGPT last year. The Wall Street Journal reported that the regulator has been seeking internal records from current and former OpenAI officials and directors. There’s also a separate criminal investigation into OpenAI, the newspaper has previously reported, and that probe is continuing, the report said.
Microsoft
MSFT,
is a major investor in OpenAI’s for-profit arm. There also are competition probes into the relationship between OpenAI and Microsoft.
The emergence of ChatGPT and other large language models has been one of the driving forces behind the 28% rally for the S&P 500
SPX
over the last 52 months.
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