Coin Bureau|5月 26, 2026 23:07
🚨 Did Sam Altman Use OpenAI’s Billions to "Pump" His Own Cerebras Stake?
A coalition of 60+ civic organizations just demanded California’s Attorney General investigate OpenAI for alleged self-dealing.
The petition centers on a multibillion-dollar conflict of interest that looks exactly like an insider pump.
Here is the exact financial timeline they are challenging:
1. Sam Altman and Greg Brockman acquired significant personal equity in AI chipmaker Cerebras.
2. Under their leadership, OpenAI subsequently signed a multibillion-dollar contract to buy massive computing power from Cerebras.
3. Following OpenAI’s massive capital injection, Cerebras’s valuation rapidly exploded from ~$8B to an estimated $30B right before its IPO.
4. Evidence in the recent Musk v. Altman trial revealed that these personal financial stakes were kept hidden from Elon Musk.
The coalition, EyesOnOpenAI, alleges this sequence violates California Corporate Code § 5233, which strictly prohibits self-dealing by nonprofit executives.
They are demanding the Attorney General intervene before OpenAI's pending for-profit conversion is finalized.
It raises a massive question for the industry:
Is OpenAI's leadership using its billions to benefit humanity, or to pump their own portfolios?(Coin Bureau)
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