I’ve long been fascinated by the brilliant and polarizing OpenAI CEO, and jumped at the chance to interview Altman in person in San Francisco on Friday for my podcast, Fortune 500: Titans and Disruptors of Industry. 

On my agenda to ask Altman: Where AI is today, and can it be built safely in the months and years ahead? In our hour-long sit-down, we discussed how quickly the models are developing, whether or not more powerful AI can be controlled, and what he would do if he realized AI could not be built safely. We also discussed the upcoming IPO, which he said is “ill-timed” given the safety concerns and won’t take place until 2027.

Altman told me no gamble with humanity is OK, and that he’d have no problem standing up to his investors if he needed to pause or stop AI development altogether. He also had thoughts on what’s needed from a regulatory perspective both nationally and internationally, and alluded to a pact he’s making with industry peers to slow down while safety and alignment solutions can catch up to model capabilities.

“We are clearly, today, at a point on the curve with great potential and real risk,” he told me.

Top leadership news

Anthropic CEO calls for slower AI race

Dario Amodei announced his company is committing to a new safety measure—giving independent evaluators permanent, employee-level access inside the company—as part of a push to slow AI development. “We must slow the pace at which we improve the capabilities of AI models. Progress will still seem fast, and we must make wise use of the time we gain,” Amodei said on Saturday. Other AI leaders, including Altman, expressed support for an industry-wide slowdown.

Lululemon CEO’s inherited mess worsens

When Lululemon announced in April that former Nike senior executive Heidi O’Neill was becoming its new CEO this month, the athleisure pioneer was already struggling. But in the five months between her appointment and when she assumed the job last week, Lululemon’s deterioration has only accelerated. The company reported another terrible quarter and cut its full-year outlook for the second time in three months.

Why Virgin Group’s CEO scrolls TikTok daily

Josh Bayliss regularly turns to TikTok—not simply for a mid-afternoon dopamine hit, but to better understand how younger generations think, what they care about, and where new business opportunities may be emerging. “The zeitgeist is not people in their 50s like me,” he told Fortune. “The zeitgeist is 20-something-year-olds who are shaping the culture that we have an obligation to serve.”

The markets

S&P 500 futures are down 0.78% this morning. The last session closed up 0.86%. The STOXX Europe 600 was down 0.32% in early trading. The U.K.’s FTSE 100 was up 0.51% in early trading. The Nikkei 225 was down 0.81%. South Korea’s KOSPI was down 3.26%. China’s CSI 300 was down 0.67%. Hong Kong’s Hang Seng was up 0.45%. India’s markets are closed today. Bitcoin is at $78k.

Around the watercooler

After a decade of failed bills and three years of resignations, Washington finally discovers it cares about AI safety by Catherina Gioino

Trump and Xi Jinping would both win the Nobel Peace Prize if they make a U.S.-China deal on AI development, OpenAI CEO Sam Altman says by Jason Ma

Amazon workers on food stamps have tripled despite its record revenue—and it’s just the latest evidence of the new economy of shrinking labor shares by Sasha Rogelberg

One of X’s most notorious ragebaiters explains how the outrage business earned him $80,000—and why he’ll keep posting even as the creator model shifts by Eva Roytburg

Miami is the luxury capital for the rich fleeing New York and L.A.—now a $100M office has infrared saunas, a stem cell clinic, and a Vegas-style valet by Sydney Lake

CEO Daily is curated and edited by Joseph Abrams, Jason Ma, Claire Zillman, and Lee Clifford.