TLDR:
- Sam Altman has been removed as head of the OpenAI VC fund due to fund governance changes.
- Control of the fund has been transferred to Ian Hathaway.
In a recent securities filing, it was revealed that Sam Altman, CEO of OpenAI, no longer controls the company’s venture capital fund. The fund’s governance has recently changed, removing Altman as its head and general partner. Previously, Altman had raised $175 million for the OpenAI Startup Fund from outside limited partners, with Altman making investment decisions. However, Altman has no financial interest in the fund. Control of the fund has now been transferred to Ian Hathaway, a fund partner since 2021.
OpenAI and Microsoft are reportedly working on a $100 billion data center project involving an AI supercomputer named “Stargate.” Microsoft is expected to finance the project, with the Stargate being the largest in a series of supercomputers the companies plan to build. The success of this project depends largely on OpenAI’s next major upgrade, set to be released in early next year.
Meanwhile, Altman’s biometrics/crypto firm, Worldcoin, has faced regulatory scrutiny in Portugal and was ordered to halt its data collection efforts due to complaints about collecting data from minors and deficiencies in information provided to data subjects. Worldcoin stated that it follows all laws regarding biometric data collection and is willing to address the regulator’s concerns.
