Overview
- A Wall Street Journal report says investors and staff worry that Sam Altman’s personal stakes could influence OpenAI’s choices as the company prepares a potential listing near $850 billion.
- Altman urged an OpenAI investment of about $500 million in Helion Energy, where he is a major investor, then recused himself as the company declined to buy equity.
- OpenAI instead signed rights to purchase up to 50 gigawatts of power from Helion by 2035, a long-term supply pact the startup has cited in talks with new backers.
- Helion has since reduced its fundraising goal to about $250 million at a $15 billion valuation, with Thrive Capital expected to lead the round, according to the reports.
- Altman also explored a deal with rocket maker Stoke Space while his family office had invested in it, and employees later avoided internal debate over the Helion proposal out of legal fears as board chair Bret Taylor publicly backed Altman’s leadership.