The U.S. Securities and Exchange Commission SEC is reportedly investigating whether investors in OpenAI were misled, according to a report by the Wall Street Journal. The scrutiny includes a focus on internal communications involving Sam Altman, the Chief Executive Officer of OpenAI.
The investigation stems from concerns about potential misleading statements made to investors, raising questions about the transparency and accuracy of information provided by the company. The SEC’s interest in the matter has led to requests for internal records from current and former OpenAI officials and directors. Additionally, a subpoena was issued to OpenAI in December as part of the investigation process.
This development follows a series of events within OpenAI, including Altman’s removal as CEO and expulsion from the board in November. The decision to remove Altman was attributed to concerns about his communication with the board, with OpenAI stating that his lack of consistency in communications hindered the board’s ability to fulfill its responsibilities. However, Altman was later reinstated to his positions within the company.
The SEC’s inquiry is seen as a response to allegations made by OpenAI’s board in November. However, it’s important to note that the SEC has not identified any specific statements or communications by Altman that it deems misleading.
OpenAI, the SEC, and Microsoft, a major investor in OpenAI, have yet to respond to requests for comments on the matter.
As the investigation unfolds, stakeholders will be closely watching for further developments and clarity regarding the nature of the SEC’s concerns and its potential implications for OpenAI and its investors.
