Due to the “strange” company structure, OpenAI CEO has no IPO plans. At an Abu Dhabi conference, OpenAI CEO Sam Altman stated the Microsoft-backed startup behind ChatGPT has no intentions of going public.

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

“I don’t want to be sued by… public market, Wall Street etc, so no, not that interested,” he answered when asked if he would take OpenAI public.

OpenAI has secured $10 billion from Microsoft (MSFT.O) at a valuation of over $30 billion to create processing capacity.

Our structure is odd. “Cap to profit,” he said.

OpenAI originated as a non-profit but later developed a hybrid “capped-profit” corporation to attract external financing while promising to help the original non-profit operation.

Altman and other notable scientists developing and promoting artificial intelligence have warned of the damage it poses, particularly content-creating generative AI like ChatGPT, equating it to extinction-level peril. They want rules.

On Tuesday, Altman visited the United Arab Emirates for his international trip. He’ll visit Qatar, India, and South Korea.

Legislators criticized him, notably EU industry leader Thierry Breton, for warning OpenAI may leave Europe if AI legislation is too difficult to comply with. OpenAI was later retracted.

“We did not threaten to leave the EU,” Altman said Tuesday. We anticipate compliance. We’re delighted to operate in Europe, but the EU AI Act needs more clarification.

The EU is drafting AI legislation requiring companies to utilize ChatGPT to reveal copyrighted training material.

GPT 4, OpenAI’s latest AI model, doesn’t release that data.

EU tech boss Margrethe Vestager supported Altman, saying she saw his statements as a vow to do his best.

“The number one thing about this technology that people don’t understand is that in a few years GPT 4 is going to look like a little toy that was not that impressive,” Altman said of AI’s rise.

“There will be images, audio, video, text, computer programming, all together.”

According to experts, AI might replace professions in transportation, logistics, office support, production, services, and retail.

Altman said future occupations would be “super different than many of the jobs of today” and offer chances.