OpenAI is paying out $51M to a chip startup that Sam Altman invested in

OpenAI Committed to Buying $51M of AI Chips from a Startup Backed by Sam Altman - https://news.ycombinator.com/item?id=38506660 - Dec 2023 (230 comments)

51 million isn’t actually all that much for a chip startup, in my opinion.

From what I’ve learned about Sam over the past year or so just from public discord he sounds like he’d be a great CEO of a company like Salesforce but the wrong kind of person to be running an organization like OpenAI.

When it's all private entities, all this is legal right? Like trade windows, and trading laws and all that apply only in public entities correct?

So Sam could decide to have Open AI hire all his family to executive roles, invest out money into his own companies or his family and friends and it all would be legal right?

Using him/OpenAI here as an example.

Double dippin Sam Altman