© Reuters
Investing.com– The Securities and Exchange Commission (SEC) is investigating whether OpenAI investors were misled in the wake of the AI firm’s recent leadership overhaul, the Wall Street Journal reported on Thursday citing people familiar with the matter.
The regulator is specifically looking into internal communications involving CEO Sam Altman, and had also sent a subopena to OpenAI in December, the WSJ report showed.
The move came shortly after Altman’s abrupt ouster and reinstatement in November 2023, which also spurred a massive overhaul of OpenAI’s board of directors.
The overhaul saw the ouster of Ilya Sutskever, who is a co-founder of the AI start-up.
Major investor Microsoft (NASDAQ:) had taken a non-voting seat, observer post on the board in November but is yet to officially name its candidate for OpenAI’s board.
OpenAI did not immediately respond to a request for a comment.