OpenAI alters Startup Fund governance, removing CEO Sam Altman's ownership and control.
OpenAI has changed its venture capital fund's governance structure, removing CEO Sam Altman's ownership and control. This change came after Altman's unusual ownership of the fund, where he raised funds from outside limited partners and made investment decisions, raised concerns. OpenAI stated that despite his ownership, Altman has no financial interest in the fund. The OpenAI Startup Fund, which backs AI startups, now has its governance structure managed by Ian Hathaway.
April 01, 2024
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