At an all-hands meeting on Thursday, OpenAI CEO Sam Altman denied any plans for him to receive a “giant equity stake” in the company, stating that such information is “just not true,” according to an attendee who wished to remain anonymous. Both Altman and finance chief Sarah Friar addressed investor concerns about Altman’s lack of equity in the high-valued artificial intelligence company he co-founded nearly nine years ago.

In response to speculation about potentially attaining an equity stake, Altman affirmed, “There are no current plans here.” OpenAI Chairman Bret Taylor further elaborated in a statement to CNBC, explaining that while the board has discussed whether it would benefit the company and its mission to compensate Altman with equity, no specific figures have been proposed, nor have any decisions been made.

The meeting followed the board’s decision to contemplate restructuring the company into a for-profit business. A source familiar with the discussions indicated that should this change occur, the non-profit segment would remain a separate entity, although no finalized plans have been disclosed.

Amid these corporate deliberations, key executives continue to depart. On Wednesday, three executives announced their resignations, including OpenAI Chief Technology Officer Mira Murati, who had briefly served as interim CEO and expressed her intention to leave after six and a half years. Later that day, research chief Bob McGrew and research vice president Barret Zoph also declared their departures.

In an interview on Thursday at Italian Tech Week, Altman commented on the ongoing transitions, stating, “I think this will be hopefully a great transition for everyone involved, and I hope OpenAI will be stronger for it, as we are for all of our transitions.” He emphasized that the recent departures were not related to the company’s potential restructuring, countering some media reports.

Altman remarked, “Most of the stuff I saw was also just totally wrong,” adding that the board had independently been contemplating the restructuring for nearly a year, focusing on what is necessary for the company's next stage. He believes the recent executive changes reflect individuals ready for “new chapters of their lives” and a new generation of leadership.

Murati communicated her decision to step away in a memo, stating she wishes to create “the time and space to do my own exploration.” She emphasized her commitment to ensuring a smooth transition during this period.

Before these recent announcements, OpenAI co-founder Ilya Sutskever and former safety leader Jan Leike had also announced their departures in May, while co-founder John Schulman stated last month that he would be joining rival Anthropic.

Backed by Microsoft, OpenAI is currently pursuing a funding round that could value the company at over $150 billion. Reports suggest that Thrive Capital is leading the round, planning to invest $1 billion, with Tiger Global expected to join the effort.

Despite its rapid growth following the launch of ChatGPT in late 2022, OpenAI has faced controversies and a series of executive exits, raising concerns among current and former employees about whether the company is expanding too quickly to ensure safe operations.

In a significant turn of events, Altman was ousted from the company in November but was quickly reinstated after almost all OpenAI employees signed an open letter threatening to leave in response to the board’s actions. Just days later, Altman returned, and Murati transitioned from interim CEO back to her role as CTO.

For more insights on corporate developments, explore the Best IPOs to Apply Now and stay updated with the Top News Headlines relevant to the financial markets.

Join our Trading with CA Abhay Telegram Channel for expert insights and stock tips, and subscribe to the Finance Saathi Telegram Channel for regular updates on share market news and IPO trends.

To kickstart your investment journey, consider opening a Free Demat Account with Choice Broking FinX for access to the latest IPOs and trading opportunities.