Sweden (Reuters) – The CEO of Microsoft-backed OpenAI, the organisation behind ChatGPT, Sam Altman, said at a conference in Abu Dhabi that there are no immediate plans for the business to go public.

When we achieve superintelligence, we may make choices that most investors would find incomprehensible, according to Altman.

When asked whether he would take OpenAI public, he said, “No, not that interested. I don’t want to be sued by… public market, Wall Street, etc.

As it continues to spend in increasing its computer power, OpenAI has so far received $10 billion from Microsoft (MSFT.O) at a value of roughly $30 billion.

“Our organisational structure is quite odd. We have something called cap-to-profit,” he remarked.

Initially a non-profit, OpenAI eventually established a hybrid “capped-profit” corporation that enabled it to attract outside funding while assuring that the original non-profit operation would continue to reap advantages.

Altman and many other well-known scientists engaged in developing and promoting artificial intelligence have warned of the dangers it presents, especially for content-generating generative AI like ChatGPT, with some comparing it to extinction-level peril. They’ve pushed for regulation.

Altman visited the United Arab Emirates on Tuesday while on a quick tour of the globe where he is meeting with the leaders of several other nations. Next on his itinerary are South Korea, India, and Qatar.


While in Europe, he attracted fire from many MPs, including EU industry official Thierry Breton, for stating OpenAI may leave the area if it becomes too difficult to comply with proposed AI legislation. Later, OpenAI changed their position.

The EU was not threatened by us, Altman remarked on Tuesday. “We believe we can comply. Although the EU AI Act still needs some clarification, we are eager to do business there.

The EU is developing a series of legislation to regulate AI, and one of the suggestions would require any business utilising ChatGPT to reveal any copyrighted data it used to train its algorithms.

On their most recent AI model, GPT 4, OpenAI does not make such details public.

Margrethe Vestager, the head of EU technology, offered support to Altman, stating that she did not see his remarks as a threat but rather as a promise to do his best.

Regarding the development of AI, Altman remarked, “The number one thing about this technology that people don’t understand is that in a few years, GPT 4 is going to look like a little toy that was not that impressive.”

“There will be a combination of images, audio, video, text, and computer programming.”

The prospect of AI replacing workers in industries including transportation and logistics, office support and administration, manufacturing, services, and retail has been mentioned by many experts.

According to Altman, there will be possibilities as well as occupations that are “super different than many of the jobs of today.”

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