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Sam Altman (38) comes under the focus of the US Securities and Exchange Commission (SEC). According to the Wall Street Journal, an investigation has been opened against the high-flying artificial intelligence. Doubt: Altman is said to have misled investors.
The focus of the investigation is Altman’s internal communications related to his brief dismissal from AI services provider OpenAI last fall. In November, the board of directors surprisingly decided to take the tech genius to the streets.
He didn’t stay outside the closed door for long. Staff threatened to resign in an open letter over the weekend if Altman was not reinstated. The board then made a U-turn: Altman was allowed to return to the chairmanship just four days later. Why all this? It’s not understandable. The board remained vague in its statement that they had lost confidence in Altman. It was said at the time that he was dishonest.
Altman agreed to the investigation
Now the SEC appears to be addressing these allegations. The stock market regulator issued a subpoena to the company in December, Wall Street Journal investigation shows. In the letter, Open AI employees were asked to keep all documents clean, as those affected told the newspaper.
In order to get his job back, Altman had to agree to a set of conditions; One of them was this investigation.
Investigation reveals dispute with board member
So far, no irregularities have been revealed in Altman’s communications, insiders told the newspaper. However, plans to build a chip factory and seek money for it have emerged. Altman also knocked on the door of Saudi Arabia.
The investigation also revealed a dispute between Altman and a former OpenAI board member. Technology researcher Helen Toner criticized OpenAI in a research paper she co-authored. This apparently led to an argument with CEO Altman.
Not the first legal case
OpenAI retained two lawyers from American law firm Wilmer Hale as part of this investigation. Bret Taylor, co-developer of Google Maps and OpenAI board member, told news portal Bloomberg: “As the investigation continues, the board will continue to take action to strengthen OpenAI’s corporate governance.”
This isn’t the first legal situation OpenAI has faced in recent months. Lawsuits are currently pending in a New York court for possible copyright infringement. The person who sent the case is the “New York Times” newspaper. (rule)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
