OpenAI announces new independent board oversight committee focused on safety
OpenAI CEO Sam Altman speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024.
Jason Redmond | AFP | Getty Images
OpenAI on Monday said its Safety and Security Committee, which the company introduced in May as it dealt with controversy over security processes, will become an independent board oversight committee.
The group will be chaired by Zico Kolter, director of the machine learning department at Carnegie Mellon University’s school of computer science. Other members include Adam D’Angelo, an OpenAI board member and co-founder of Quora, former NSA chief and board member Paul Nakasone, and Nicole Seligman, former executive vice president at Sony.
The committee will oversee “the safety and security processes guiding OpenAI’s model deployment and development,” the company said. It recently wrapped up its 90-day review evaluating OpenAI’s processes and safeguards and then made recommendations to the board. OpenAI is releasing the group’s findings as a public blog post.
OpenAI, the Microsoft-backed startup behind ChatGPT and SearchGPT, is currently pursuing a funding round that would value the company at more than $150 billion, according to sources familiar with the situation who asked not to be named because details of the round haven’t been made public. Thrive Capital is leading the round and plans to invest $1 billion, and Tiger Global is planning to join as well. Microsoft, Nvidia and Apple are reportedly also in talks to invest.
The committee’s five key recommendations included the need to establish independent governance for safety and security, enhance security measures, be transparent about OpenAI’s work, collaborate with external organizations; and unify the company’s safety frameworks.
Last week, OpenAI released o1, a preview version of its new AI model focused on reasoning and “solving hard problems.” The company said the committee “reviewed the safety and security criteria that OpenAI used to assess OpenAI o1’s fitness for launch,” as well as safety evaluation results.
The committee will “along with the full board, exercise oversight over model launches, including having the authority to delay a release until safety concerns are addressed.”
While OpenAI has been in hyper-growth mode since late 2022, when it launched ChatGPT, it’s been simultaneously riddled with controversy and high-level employee departures, with some current and former employees concerned that the company is growing too quickly to operate safely.
In July, Democratic senators sent a letter to OpenAI CEO Sam Altman concerning “questions about how OpenAI is addressing emerging safety concerns.” The prior month, a group of current and former OpenAI employees published an open letter describing concerns about a lack of oversight and an absence of whistleblower protections for those who wish to speak up.
And in May, a former OpenAI board member, speaking about Altman’s temporary ouster in November, said he gave the board “inaccurate information about the small number of formal safety processes that the company did have in place” on multiple occasions.
That month, OpenAI decided to disband its team focused on the long-term risks of AI just a year after announcing the group. The team’s leaders, Ilya Sutskever and Jan Leike, announced their departures from OpenAI in May. Leike wrote in a post on X that OpenAI’s “safety culture and processes have taken a backseat to shiny products.”
Chesnot | Getty Images
Dogecoin shot higher on Tuesday night, extending its postelection surge after President-elect Donald Trump formally announced the creation of the Department of Government Efficiency, which he referred to as “DOGE” in his statement.
Tesla CEO Elon Musk and Vivek Ramaswamy, former Republican presidential candidate and Strive Asset Management co-founder, will lead the department, Trump said in a statement. Together, they “will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.”
Dogecoin was last up nearly 20%. It has been one of the biggest winners in the postelection rally, gaining 153% since election day compared to bitcoin’s 30% rise in the same period. It also shot past XRP this week to become the sixth largest cryptocurrency by market cap.
Dogecoin jumped after President-elect Donald Trump announced the creation of the Department of Government Efficiency, or “DOGE.”
Memecoins are seen as a gauge of retail interest and risk appetite in crypto. When memecoin activity ramps up, it usually indicates that retail investors are participating and have an appetite to speculate further out on the risk curve.
Trump initially floated the idea of an efficiency commission in September. Since then, Musk — who has called himself the “Dogefather” in the past and has been known to make public comments about the memecoin that influence its price — has posted on his social media platform X, referring to the commission as the “Department of Government Efficiency” or “D.O.G.E.”
Dogecoin gained relevance in 2021 following Musk’s endorsement and continuous hype on social media, which has since become a big catalyst for the coin. In May that year, Musk’s posts fueled dogecoin’s rally to its all-time high of 67 cents, per Coin Metrics. Though his appearance at the time on SNL, in which he called dogecoin “a hustle,” sent its price crashing down.
The rest of the crypto market was on pause from its postelection rally. Bitcoin was trading flat at about $87,000, after briefly touching $90,000 in late afternoon trading. Crypto stocks Coinbase and MicroStrategy were lower by 1% and 2%, respectively, in extended trading.
Elon Musk embraces Donald Trump during a campaign rally in Butler, Pennsylvania on Oct. 5, 2024.
Anna Moneymaker | Getty Images
President-elect Donald Trump said Tuesday that Elon Musk and former Republican presidential hopeful Vivek Ramaswamy will lead an efficiency group when his second term begins in January.
Trump wrote in a post that the Department of Government Efficiency, or DOGE, will “become, potentially, ‘The Manhattan Project’ of our time.” He also said the group would, “pave the way” for his next administration to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.”
Trump didn’t specify where cuts will take place or when the department may be formed. Congress hasn’t created or funded such an office. He said the group’s “work will conclude no later than July 4, 2026.”
Musk’s involvement in the envisioned group was previously promised by Trump and touted by the Tesla CEO, who spent an estimated $200 million backing the Republican nominee’s 2024 campaign, as a reason to put the former president back in the White House. Musk, who also runs defense contractor SpaceX, has reportedly been stationed at Trump’s Mar-a-Lago resort in Florida since Election Night.
Ramaswamy, who challenged Trump in the Republican primary, is co-founder of investment firm Strive Asset Management. He has opposed the widespread adoption of environmental, social and governance, or ESG, principles by companies.
Trump announced a number of other appointments Tuesday, including naming Fox News host Pete Hegseth as his pick for defense secretary and John Ratcliffe as CIA director.
The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange on Dec. 4, 2023.
Brendan Mcdermid | Reuters
Spotify shares rose in extended trading Tuesday after the Swedish music streaming company issued a profit forecast for the fourth quarter that topped estimates.
Here’s how the company did, compared with what analysts expected:
- Earnings per share: 1.45 euros vs. 1.72 euros expected by LSEG
- Revenue: 3.99 billion euros vs. 4.02 billion euros expected by LSEG
- Monthly active users (MAUs): 640 million vs. 639 million expected by StreetAccount
While the company’s earnings and revenue for the third quarter trailed estimates, investors focused instead on guidance for the current period.
Spotify said operating income in the fourth quarter will come in at 481 million euros, exceeding the average analyst estimate of 432.7 million euros, according to StreetAccount. MAUs will increase to 665 million, while analysts were expecting 659.3 million, based on a StreetAccount estimate.
Still, revenue guidance trailed estimates. The company said sales will reach 4.1 billion euros, below the average analyst estimate of 4.26 billion euros, according to LSEG.
Subscribers to Spotify Premium, the company’s ad-free membership service that allows users to select songs on an unlimited basis, increased 12% year over year to 252 million, slightly ahead of estimates.
Spotify shares rose about 8% after the report to $452.35 after rising 2.2% in regular trading. The stock has more than doubled in value this year.
WATCH: Spotify is the platform for artists who want to break globally
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports7 months agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports1 year agoGame 1 of WS least-watched in recorded history
-
Environment1 year agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Sports3 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business2 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway