Sam Altman Explains Why OpenAI is Not Ready for Public Market

OpenAI Chief Executive Sam Altman has expressed his reluctance to take the Microsoft Corp.-backed company public due to concerns of being sued by the public market, Wall Street and others. Altman, speaking at a conference in Abu Dhabi, explained that as the company develops super intelligence, it is likely to make decisions that most investors would find strange. The cautious approach taken by Altman is rooted in the political climate surrounding the negative effects of AI on jobs, privacy and civil rights. However, other technology companies are plunging into the market as AI becomes embraced by both enterprise businesses and consumers alike. So far, OpenAI has raised $10 billion from Microsoft at a valuation of almost $30 billion.