US SEC probes whether OpenAI investors were misled: Report

The US Securities and Exchange Commission is scrutinising internal communications by OpenAI CEO Sam Altman as part of an investigation into whether the company’s investors were misled, the Wall Street Journal reported on Wednesday.

The regulator has been seeking internal records from current and former officials and directors in the ChatGPT creator and sent a subpoena to the company in December, the report said, citing people familiar with the matter.

The move followed OpenAI board’s decision in November to fire Altman as CEO and oust him from the board. The board of the non-profit startup at the time said it “concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities.”