OpenAI Explores IPO as Brockman Says Stake Nears $30 Billion
OpenAI co-founder and President Greg Brockman testified that the company is exploring an initial public offering and that his stake in the ChatGPT maker is now worth nearly $30 billion. OpenAI last raised money at an $852 billion valuation, Brockman said, making him one of the larger individual shareholders in the company.
Under questioning by Musk's attorney, Brockman said Musk was never directly informed that Sam Altman gave him a $10 million stake in Altman's family office in 2017. He was also pressed on whether he had a conflict while advocating for OpenAI to acquire or merge with Cerebras, an AI chip company in which he was an investor, and on 2017 journal notes that described converting OpenAI to a for-profit without Musk's knowledge as pretty morally bankrupt. Brockman said he disclosed the Cerebras investment to colleagues and testified that the conversion would still serve OpenAI's mission.
From the sources (16 posts)
@businessOpenAI co-founder and President Greg Brockman said his stake in the startup is now worth nearly $30 billion, making him one of the larger individual shareholders in the ChatGPT maker.
@stockmktnewzOpenAI co-founder and President Greg Brockman said his stake in OpenAI is now worth ~$30 billion - Bloomberg
@wallstengineOpenAI President Greg Brockman said in court that his stake in the company is now worth close to $30B. He also said OpenAI’s nonprofit arm now holds a stake worth about $200B after the company’s for-profit restructuring.
@stocksavvyshayOpenAI President and co-founder Greg Brockman said in court that his stake in the company is now worth ~$30B. He also said OpenAI’s nonprofit arm now holds a stake worth ~$200B after the company’s for-profit restructuring.
@polymarketmoneyOpenAI President Greg Brockman said in court that his stake is worth nearly $30B.
@mtsliveLIVE TRIAL UPDATE: Greg Brockman takes the stand in the Musk v. Altman trial
@mtsliveLIVE TRIAL UPDATE: Greg Brockman has taken the stand. Musk's attorney confirms his stake in OpenAI is worth at least $20B, and that he told people he planned to donate $100,000 to OpenAI's nonprofit arm but never made the donation.
@mtsliveLIVE TRIAL UPDATE: Musk's attorney questions Brockman on whether he had a conflict of interest while advocating for OpenAI to acquire or merge with Cerebras, an AI chip company in which Brockman was personally an investor. Brockman says he
@mtsliveLIVE TRIAL UPDATE: Brockman confirms Sam Altman gave him a $10M stake in his family office as compensation in 2017. Brockman testifies Musk was never directly informed of the arrangement. Court documents show Musk's adviser warned him the
@mtsliveLIVE TRIAL UPDATE: Brockman's own 2017 journal notes entered into evidence. On converting OpenAI to a for-profit without Musk's knowledge: "It'd be pretty morally bankrupt." Brockman testified he meant it would be hard to look at himself i
@mtsliveLIVE TRIAL UPDATE: Brockman confirms OpenAI is exploring an IPO. The company last raised at a valuation of $852B. Asked if an IPO could make his personal $20B+ stake worth significantly more: "I'm not sure how those two are connected."
@garymarcusThe case against OpenAI is getting markedly stronger now that Musk is off the stand. Why? Musk’s lawyer is interrogating OpenAI founder Greg Brockman, making clear that OpenAI sold its mission as a nonprofit for public benefit, and not ju
@garymarcusWow. Greg Brockman had a 10M side deal with Altman even in the early nonprofit days, which not disclosed to Elon or (I believe) in nonprofit filings to the company.
@garymarcusMusk’s lawyer is calmly eviscerating OpenAI’s President Greg Brockman, largely using Brockman’s own diaries and emails. For the first time I think Elon has a real chance of winning.
@garymarcusGreg Brockman just confirmed what I speculated in December 2023! Sam Altman was not fully candid in his testimony to the US Senate.
@josephjacks_RT @MTSlive: LIVE TRIAL UPDATE: Brockman's own 2017 journal notes entered into evidence. On converting OpenAI to a for-profit without Musk'…