Altman's ouster from OpenAI spooks secondary investors

Investor interest in OpenAI shares on the secondary market has gone from a feeding frenzy to a near standstill as prospective buyers wait for news following the surprise termination of CEO Sam Altman.

Buyer interest in OpenAI stock totaling around $100 million all but evaporated between Thursday and Monday, according to Javier Avalos, CEO of secondary trading platform Caplight.

"Buyers are running for the hills," said Glen Anderson, president of Rainmaker, a bank that trades pre-IPO shares. Anderson added, however, that the dip in investor interest may be temporary, as secondary investors await future developments… Read Full Article