OpenAI co-founder Altman planning new venture- The Information By Reuters

© Reuters. FILE PHOTO: Sam Altman, CEO of Microsoft-backed creator of OpenAI and ChatGPT, speaks during a conference at Tel Aviv University in Tel Aviv, Israel June 5, 2023. REUTERS/Amir Cohen /File Photo

(Reuters) – Sam Altman, the recently ousted CEO of OpenAI, told investors he plans to launch a new company, the Information newspaper reported on Saturday.

Former OpenAI President Greg Brockman is expected to join the effort and the project is still in development, the report added, citing a person familiar with the matter.

Altman could not be reached for comment and Brockman did not immediately respond to a Reuters request for comment.

Altman and Jony Ive, former Apple (NASDAQ:) design chief, discussed building a new artificial intelligence (AI) hardware device, Information reported in September. It also reported at the time that SoftBank (TYO:) CEO Masayoshi Son was also involved in the conversation.

The board of directors of OpenAI, the company behind the hit product ChatGPT, expelled its high-profile CEO, Altman, on Friday. Co-founder Brockman resigned shortly after Altman’s firing.

Altman’s ouster was due to a “communication breakdown,” not “malfeasance,” Chief Operating Officer Brad Lightcap wrote in an internal company memo earlier Saturday and seen by Reuters.

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