April 1, 2024 9:52 PM

OpenAI removes Sam Altman’s ownership of its Startup Fund

OpenAI has changed the governance structure of its venture capital fund that backs AI startups, so its high profile chief executive Sam Altman no longer owns or controls the fund, according to a filing with the US Securities and Exchange Commission (SEC). The change, documented in the March 29 filing, came after Altman's ownership of the OpenAI Startup Fund raised eyebrows for its unusual structure while being marketed similar to a corporate venture arm, the fund was raised by Altman from outsi...