In a surprising and candid moment, OpenAI CEO Sam Altman publicly thanked Elon Musk for his pivotal early financial backing of the company, despite their current strained relationship. Speaking with YC President and CEO Garry Tan, Altman acknowledged the critical role Musk’s investment played in OpenAI’s growth, calling it “very helpful.”
This statement is notable given the tumultuous history between the two tech giants. Musk, a co-founder of OpenAI in 2015, departed from the organization in 2018. Since then, he has been vocal in his criticism of OpenAI, accusing it of deceptive practices and using his contributions for competitive leverage. The tensions escalated significantly in March of this year, when Musk filed a lawsuit against OpenAI, which was met with a retaliatory response from Altman.
OpenAI’s Rapid Growth and Financial Milestones
Altman’s remarks come at a time when OpenAI is experiencing tremendous growth. Last month, the company’s valuation reached an astonishing $157 billion after a funding round that raised more than $6.5 billion. OpenAI’s flagship platform, ChatGPT, is now used by over 250 million people globally, enhancing productivity, creativity, and learning. The latest funding round was led by Thrive Capital, which invested $1 billion, with discussions also held with major tech players like Apple, Nvidia, and Microsoft—the latter remaining OpenAI’s largest investor after contributing $13 billion over the past five years.
OpenAI’s financial success is reflected in its impressive revenue growth. In August 2024, the company’s monthly revenue reached $300 million, a staggering 1,700% increase since early 2023. Additionally, OpenAI has announced plans to increase the price of ChatGPT by over 100% over the next five years.
Altman Reflects on AI’s Impact and Future Opportunities
During his interview with Tan, Altman also emphasized the vast opportunities in AI for aspiring tech entrepreneurs. Reflecting on his own career, Altman admitted that, had he known the full extent of his interest in AI, he might have taken a different path. Despite being told that neural networks were a dead-end early on, Altman’s passion for the field led him to OpenAI—a decision that would significantly impact his career.
While Altman expressed gratitude for his AI journey, he also hinted at some regret over his earlier focus on Loopt, the location-based social networking company he co-founded. Despite these reflections, Altman’s commitment to OpenAI’s future remains clear as the company continues to push the boundaries of artificial intelligence.
A Complex Tech Industry Relationship
Altman’s public acknowledgment of Musk’s early contribution underscores the complex dynamics of the tech industry. It highlights how early-stage investments can shape the trajectory of companies, even in the face of significant personal and professional differences. Despite their current disagreements, Musk’s role in OpenAI’s early success remains a key chapter in the company’s remarkable rise.
