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ChatGPT Maker OpenAI Threatens to Leave Europe Over Proposed AI Rules

2 mins
Updated by Kyle Baird
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In Brief

  • OpenAI has threatened to leave the European market over recently proposed rules on AI.
  • The ChatGPT creator stated that the current draft of the AI Act is over-regulating.
  • ChatGPT continues to be rapidly adopted as lawmakers are debating the technology and its implications.
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ChatGPT creator OpenAI Sam Altman said that the AI platform might have to leave Europe if current regulation drafts remain unchanged. He said that the EU’s current draft of regulations was over-regulating.

The CEO of ChatGPT creator OpenAI, Sam Altman, said on May 24 that the company might consider leaving Europe if it could not comply with new AI regulations set by the European Union (EU). The EU is currently working on a comprehensive AI regulation, the first of its kind.

Sam Altman Speaks Up Against AI Overregulation

Altman was speaking at an event in London, saying that OpenAI would try to comply but may have to leave if it was not possible. Speaking to Reuters, he spoke of the nature of the regulation,

“The current draft of the EU AI Act would be over-regulating, but we have heard it’s going to get pulled back. They are still talking about it.”

The regulation in question is the European Union AI Act. Among other facets, it proposes classifying different AI tools according to their perceived level of risk. This will, in turn, impose obligations on governments and companies to act accordingly.

Years in the making, EU lawmakers have finally come to an agreement on the rules. Following a debate, the AI Act will be passed to a vote. Altman explains that there is much that could be changed, including “changing the definition of general purpose AI systems.”

OpenAI Raises $175M for a Startup Fund

Meanwhile, OpenAI has been raising more money. Most recently, the company acquired $175 million in funding for a startup investment fund. $100 million from the funds will be allocated to the OpenAI Startup Fund and support firms that are “pushing the boundaries of how powerful AI can positively impact the world and profoundly change people’s lives.”

ChatGPT maker OpenAI had seven funding rounds so far: Crunchbase
OpenAI Funding Rounds: Crunchbase

OpenAI has had seven rounds of funding so far, raising a total of $11.3 billion. The total number of investors is 12, with the group including Thrive Capital, Andreessen Horowitz, Sequoia Capital, Tiger Global Management, and of course, Microsoft.

OpenAI has made its own investments. Most recently, this was EdgeDB in November 2022, where it offered $15 million.

ChatGPT Seeing Rapid Adoption

ChatGPT has been making a lot of progress in a short span of time, even after it exploded in popularity earlier in the year. The AI tool has seen rapid adoption in the tech world, with Opera notably integrating an AI sidebar that uses ChatGPT.

OpenAI has also made Bing the default search engine for ChatGPT from May 23. The feature is currently limited to ChatGPT Plus users, with free users receiving the feature soon. Microsoft plans to establish interoperability between Bing Chat, Copilot, and ChatGPT.

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Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...
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