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OpenAI CEO Sam Altman has shut down rumours of an imminent initial public offering and said that it is not a priority of the company to become publicly traded. Speaking to the CNBC Squawk Box, Altman added that OpenAI is very much about addressing operational challenges and putting an enormous amount of resources into computing and research. He recognised the interest of investors but raised the concern about the fast expansion of the private markets and the sketchiness of the trade of some shares of the private shares.
These statements were made when OpenAI released the most sophisticated AI model to date, GPT-5. The new system is more accurate, more capable of reasoning, and less hallucinatory as compared to its predecessors. According to OpenAI, GPT-5 can be used free of cost and is more efficient than competitive models of generative AI. The company, which is worth up to $500 billion and is being supported by Microsoft, is still privately owned.
Altman emphasised that even when OpenAI eventually makes it to the public, in case it does, there is still a lot of upside potential in the company. He has again stated that its focus should not be on stock market listing but on strengthening its technology and widening its access across the world.
Altman revealed that India is the second-biggest market of OpenAI after the US, and soon it might surpass the US. The firm will increase its collaboration with domestic companies to ensure the AI tools are cheaper and aligned with the requirements of the Indian people. “We are particularly concerned with bringing products to India and getting AI to work really well in the country,” he added.
