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OpenAI CEO Sam Altman is among tech execs giving money to startups after Silicon Valley Bank’s collapse.
Altman told Reuters startups need money to pay employees and bills while SVB’s situation is addressed.
SVB, a once-trusted bank for tech and startups, was taken over by regulators Friday.
OpenAI CEO Sam Altman, the company behind the popular ChatGPT, is one of several tech executives reportedly sending money to startups concerned about making payroll and staying afloat after Silicon Valley Bank’s collapse.
Doktor Gurson, CEO of Rad AI, told Reuters Altman responded to an email within an hour or two with an offer of at least six figures in emergency funds so he could pay his employees, requesting only that he pay Altman back once he’s able.
“Sam has been sending stuck startups money today with no docs, just saying ‘send me back whatever you can whenever you can’.
