BlockBeats News, May 12th - Republican congressman and House Oversight Committee chair James Comer has written to OpenAI CEO Sam Altman requesting disclosure of potential conflicts of interest between personal investments and OpenAI.

The investigation focuses on Altman's extensive personal investment network. As Altman does not hold any equity in OpenAI, his roughly $3.5 billion net worth primarily comes from his personal investment portfolio, including companies like Helion, Stripe, and Reddit.

According to The Wall Street Journal, Altman had advocated for OpenAI to invest $500 million in the fusion energy company Helion, in which Altman himself had invested at least $375 million. Comer stated that this move raised concerns externally about whether Altman was leveraging OpenAI to boost the valuation of his personal portfolio companies.

In addition, attorneys general from states such as Florida, Montana, Nebraska, Iowa, West Virginia, and Louisiana have also written to SEC Chair Paul Atkins requesting an investigation into whether Altman is engaged in "self-dealing" and facing significant conflicts of interest.

Meanwhile, Altman is set to testify this Tuesday and Wednesday in the Musk v. OpenAI lawsuit. Musk has accused Altman and OpenAI's co-founders of violating the initial "non-profit organization" commitment by steering OpenAI towards a for-profit operation.

While the conflict of interest inquiry and Musk's lawsuit are separate events, Altman's personal investments have been brought up multiple times during the trial. OpenAI Board Chair Bret Taylor has defended Altman during the trial, stating that he has been "open and transparent" about his personal investment matters.