In a new development, the Securities and Exchange Commission (SEC) has reportedly launched an investigation into artificial intelligence startup OpenAI over potential misleading statements made to investors. The regulator issued a subpoena in December, seeking communication records of past and present board members and executives, including CEO Sam Altman, according to sources familiar with the matter cited in The Wall Street Journal.

OpenAI, the creator of ChatGPT, is now under scrutiny by the SEC to determine whether investors were misled. Although the specific details of the alleged misleading statements remain undisclosed, the SEC's probe is said to have been triggered by the dramatic events that unfolded in November. At that time, Altman, a co-founder of OpenAI, was dismissed from his role by the previous board for purportedly lacking transparency in his communications.

The unexpected removal of Altman triggered an employee revolt, leading to the swift appointment of a new board and Altman's subsequent return as CEO. The Journal's report suggests that the SEC's investigation can be viewed as a natural response to the claims made by the former board in their November statement. Despite this, there has been no indication from the SEC regarding any specific statement or communication by Altman that is deemed misleading at this stage.

An OpenAI spokesperson was unavailable for immediate comment when reached out for a response to the report. The probe comes at a time when Altman is reportedly in discussions to secure billions of dollars for a chip venture, adding a layer of complexity to the investigation. The outcome of the SEC's investigation will likely have significant implications for both OpenAI and Altman's future endeavors.

As the investigation unfolds, it remains to be seen how the SEC will proceed and what impact this will have on OpenAI's reputation and investor confidence. The AI startup, known for its cutting-edge technology, will face increased scrutiny as regulators delve into the alleged misleading statements made to investors.