Three top technical leaders at Microsoft-backed OpenAI quit on Wednesday, the latest in a string of executive departures this year coming at a time of flux for the ChatGPT maker. Chief technology officer Mira Murati, VP research Barret Zoph and chief research officer Bob McGrew announced their departures via X on Wednesday afternoon.
The San Francisco-based AI startup is negotiating a new $6.5 billion financing round valuing the company at $150 billion, contingent on the company upending its corporate structure.
The company plans to restructure to a for-profit benefit corporation and will give CEO Sam Altman an equity stake, Reuters reported on Wednesday. Currently, a non-profit board controls the for-profit entity, an unusual structure which led to members of the non-profit board ousting Altman in Nov 2023 over a breakdown in communication and loss of trust. He was reinstated after five days. The funding round has not closed yet and the company is in the process of finalising it.
It was unclear whether the executives’ departure could affect the ongoing fundraise. Some fundraising documents contain a “material adverse change” clause which allows investors to withdraw from a deal if the company encounters anything that could have a significant negative impact.
Murati is still working at OpenAI while she negotiates her exit from the company, according to a source close to her. She’s been part of the firm for 6.5 years, and briefly served as CEO in Nov when Altman was ousted.