[Market Trends] OpenAI Cuts Sam Altman From Startup Fund | Forbes

            




📌 OpenAI Fund Management Shifts Without Sam Altman

OpenAI's CEO Sam Altman has stepped down from managing the company's startup fund, marking the end of a unique and controversial era. Launched in 2021 with Microsoft's support, the fund aimed to propel AI startups towards making a significant, positive global impact, focusing on healthcare, science, law, education, and energy sectors. It particularly encouraged participation from founders belonging to underrepresented groups. With $175 million in commitments and 13 companies backed across 17 deals, its notable investments include legal tech startup Harvey, collaborative platform Descript, and AI medical scribe Ambience Healthcare. Axios first reported this major shift in the fund's management structure.


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