OpenAI Faces Uncertainty as CEO Firing & Executive Departures Threaten $86B Valuation

A planned sale of OpenAI employee shares that would value the startup at approximately $86 billion is at risk following the sudden firing of CEO Sam Altman and a wave of executive departures, according to a report by the Information. The tender offer led by Thrive Capital is in its final stages but has not yet closed, and it was expected to be completed next month. Neither OpenAI nor Thrive Capital has responded to requests for comment. This news follows Altman’s dismissal by the board of the company behind ChatGPT on Friday. OpenAI President and Co-founder Greg Brockman, who stepped down as chairman as part of the management shuffle, has also left the company. The departures came as a shock to many employees who learned about the management changes through an internal message and the company’s public blog. OpenAI, which was backed by substantial funding from Microsoft, kicked off the generative AI trend with the release of ChatGPT in November last year.