OpenAI Chief Executive Does Not Plan to Take Company Public

OpenAI CEO Sam Altman speaks in Abu Dhabi, United Arab Emirates, Tuesday, June 6, 2023. (AP)
OpenAI CEO Sam Altman speaks in Abu Dhabi, United Arab Emirates, Tuesday, June 6, 2023. (AP)
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OpenAI Chief Executive Does Not Plan to Take Company Public

OpenAI CEO Sam Altman speaks in Abu Dhabi, United Arab Emirates, Tuesday, June 6, 2023. (AP)
OpenAI CEO Sam Altman speaks in Abu Dhabi, United Arab Emirates, Tuesday, June 6, 2023. (AP)

Microsoft-backed OpenAI, the company behind ChatGPT, has no plans to go public any time soon, Chief Executive Sam Altman said at a conference in Abu Dhabi.

"When we develop super intelligence, we are likely to make some decisions that most investors would look at very strangely," Altman said.

"I don't want to be sued by ... public market, Wall Street etc, so no, not that interested," he replied to a question on whether he will take OpenAI public.

OpenAI has so far raised $10 billion from Microsoft at a valuation of almost $30 billion as it invests more on building computing capacity.

"We have a very strange structure. We have this cap to profit thing," he said.

OpenAI started off as a non-profit organization but later created a hybrid "capped-profit" company, that allowed it to raise external funds with a promise that the original non-profit operation still benefits.



KACST Manufactures 25 Advanced Electronic Chips by Saudi Talents

The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)
The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)
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KACST Manufactures 25 Advanced Electronic Chips by Saudi Talents

The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)
The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)

Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST) announced on Thursday its successful design and fabrication of 25 advanced electronic chips, developed by Saudi talents in its cleanroom laboratories for purposes of training, research, and development.

The achievement is part of KACST’s ongoing efforts to support and enable the semiconductor ecosystem in the Kingdom.

These chips are distinguished by their versatility and can be used in a range of applications, including electronics, wireless and high-frequency communications, integrated circuits, energy-efficient lighting, micro-sensor systems, as well as industrial and research applications in measurement and testing.

The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. This effort was conducted under the initiatives of the Saudi Semiconductors Program (SSP), which aims to build national expertise in this critical field.

The chips can be used in a range of applications. (SPA)

This milestone is part of a series of strategic initiatives led by KACST to support the semiconductor sector in the Kingdom, including the Saudi Semiconductors Program to boost research and development and qualify human talent and the "Ignition" semiconductor incubator program to support startups and entrepreneurs.

Through these initiatives, KACST underscored its commitment to the ambitious goals of Saudi Vision 2030 by localizing strategic technologies, empowering national talent, and achieving technological self-sufficiency in advanced domains.