OpenAI CEO says no plan for IPO. Check here why

Responding to a question on whether he will take OpenAI public Altman said, "I don't want to be sued by ... public market, Wall Street etc, so no, not that interested, " reported Reuters. The OpenAI CEO was addressing a conference in Abu Dhabi.

“When we develop super intelligence, we are likely to make some decisions that most investors would look at very strangely," Altman added.

Microsoft-backed OpenAI, the company behind ChatGPT, has so far raised $10 billion from Microsoft at a valuation of almost $30 billion as it invests more on building computing capacity.

"We have a very strange structure. We have this cap to profit thing," he said.

OpenAI started off as a non-profit organisation but later created a hybrid "capped-profit" company, that allowed it to raise external funds with a promise that the original non-profit operation still benefits.

While building their artificial intelligence capacities, Altman and many prominent scientists involved with creating and marketing the technology have warned of the threat it poses, particularly content-creating generative AI such as ChatGPT, with some equating it to extinction-level risk. They have demanded regulation.

While in Europe the OpenAI CEO got into controversy for saying OpenAI may leave the region if it becomes too hard to comply with planned laws on AI, But later reversed his  stance.

"We did not threaten to leave the EU," Altman said. "We expect to be able to comply. There's still more clarity we are waiting for on the EU AI Act, but we are very excited to operate in Europe."

The EU is working on a set of laws to govern AI, including proposals that would force any company using tools like ChatGPT to disclose copyrighted material used to train its systems.

Altman, however, found support from EU tech chief Margrethe Vestager, who said she did not perceive Altman's comments as a threat but as a promise to do his best.