Artificial intelligence|Open AI’s requirement for investors would significantly limit competitors’ conditions for raising capital. One of Open AI’s competitors is xAI piloted by billionaire Elon Musk.
An artificial intelligence company Open AI has set strict conditions for its investors, says the financial newspaper The Financial Times (FT).
According to the newspaper by Sam Altman led by Open AI has asked its investors not to fund competing startups developing artificial intelligence at all. Open AI’s competitors include Anthropic, founded by its former employees, and a billionaire Elon Musk’s piloted by xAI.
Open AI’s proposal is justified in itself, says FT. The financiers of growth companies often receive sensitive information from the companies, and Open AI does not necessarily want such information to circulate through investors to its competitors.
At the same time, however, FT points out that Open AI’s requirement for investors would significantly limit the conditions for its competitors to raise capital. According to FT, the requirements presented by Open AI are also quite exceptional.
Open AI’s the conditions set for investors may strain the company’s relations with its competitors. In addition, the relationship between Open AI and Elon Musk has already been strained.
Musk co-founded Open AI, but left it in 2018. In March, he sued Open AI and its CEO Altman.
According to Musk, the company has violated its founding agreement by putting the pursuit of profit before developing artificial intelligence for the benefit of humanity.
Open AI just closed a funding round of over $6.5 billion. News agency Bloomberg’s according to the round, the market value of the artificial intelligence company will rise to more than 150 billion dollars.
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