60+ Groups Urge California Probe Into OpenAI Executives' Cerebras Conflict Following $5.55B IPO

According to reporting monitored by Beating, a coalition of 60+ civil rights and advocacy groups called EyesOnOpenAI filed a letter with California Attorney General Rob Bonta in May 2026, demanding an investigation into alleged self-dealing and conflicts of interest involving OpenAI executives. The coalition accused CEO Sam Altman, President Greg Brockman, board member Adam D'Angelo, and former co-founder Ilya Sutskever of holding personal stakes in semiconductor startup Cerebras Systems while simultaneously driving OpenAI to sign a multi-billion-dollar procurement agreement with the company.

The investigation request follows Cerebras' May 13 IPO, where the company priced shares at $185 each and raised $5.55 billion. The coalition alleges the executives' actions may violate California's nonprofit trustee self-dealing statutes by using the nonprofit's purchasing power to inflate the value of their personal investments.