Focus on profit
OpenAI no longer wants to be a non-profit organization
AI pioneer OpenAI is apparently facing a fundamental restructuring. According to a report, the ChatGPT developer is in initial talks with the Californian Attorney General about becoming a for-profit company.
This was reported by the Bloomberg agency on Monday, citing two people familiar with the matter. OpenAI and the California Department of Justice did not initially respond to inquiries from Reuters.
The news agency reported back in September that the Microsoft partner was working to restructure its core business into a for-profit company that would no longer be run by its non-profit board. However, the non-profit organization OpenAI is to remain in place and hold a minority stake in the for-profit company, Insider reported at the time.
Worth 157 billion dollars
The move would mean a drastic turnaround in the management structure for the company, which was founded in 2015 as a non-profit research laboratory for artificial intelligence. However, it would make Sam Altman's start-up more attractive to investors: Last month, the ChatGPT maker closed a $6.6 billion funding round, valuing the company at $157 billion and cementing its position as one of the most valuable private companies in the world.
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