OpenAI hired Google executive Albert Lee to lead corporate development at the artificial intelligence company. A spokesperson confirmed the hire to CNBC, stating Lee will have broad visibility across OpenAI as it focuses on strategic investments and mergers and acquisitions during its next growth phase.
Lee previously led corporate development for Google Cloud and Google DeepMind. At Google, he worked on several high-profile acquisitions, including the company’s $32 billion purchase of cloud security startup Wiz, announced in March.
OpenAI, founded in 2015 as a nonprofit research lab, reached a valuation of $500 billion following the 2022 launch of ChatGPT. The company has pursued multiple acquisitions amid its expansion. Earlier this month, OpenAI announced a definitive agreement to acquire Neptune, a startup that assists with AI model training; the companies did not disclose terms.
In October 2023, OpenAI acquired Software Applications Incorporated, a small company, for an undisclosed sum. The prior month, in September 2023, OpenAI purchased product-development startup Statsig for $1.1 billion. Earlier, in May 2023, OpenAI bought io, the AI-devices startup founded by former Apple designer Jony Ive, for more than $6 billion.
Lee represents the latest executive addition as OpenAI builds its leadership team. Earlier this month, the company named Slack CEO Denise Dresser as its chief revenue officer. In May 2024, OpenAI appointed Fidji Simo, then CEO of Instacart, to head its applications business.
