Sam Altman, the head of OpenAI, is facing increasing political criticism in the USA due to a potential conflict of interest associated with his business connections. This is happening amid the company’s preparations to go public.
Recently, the Wall Street Journal reported on the initiation of investigations into Altman, started by Republicans in the US Congress and several state attorneys general. The investigation concerns a potential conflict of interest: Altman is suspected of using OpenAI’s resources to promote companies in which he has personally invested.
Particular attention has been given to OpenAI’s collaboration with Helion Energy, a startup in the field of fusion energy, and Stoke Space — a developer of rockets and space infrastructure. Critics argue that these deals could have led to artificially inflating the value of assets in which Altman had already invested funds.
This conflict is unfolding against the backdrop of a legal confrontation between Altman and Elon Musk. Musk accuses Altman of misleading during the creation of OpenAI as a non-profit organization while the alliance itself shifted to a commercial model. OpenAI representatives, in turn, deny these accusations, claiming that Musk was informed about such changes.
OpenAI is preparing for one of the largest IPOs in the history of the tech sector with a preliminary valuation of about $850 billion. This will provide the company with strong support in the stock markets and attract investments.
