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OpenAI details plans to turn into a for-profit company
OpenAI lays out its for-profit transition plans
One of OpenAI’s co-founders, billionaire Elon Musk, has filed for an injunction to halt the company’s transition to a for-profit, accusing OpenAI of abandoning its original philanthropic mission. Musk has also alleged that OpenAI has deprived his own AI company, xAI, of capital by extracting promises from investors not to fund it.
OpenAI Details Plans for Becoming a For-Profit Company
OpenAI said it would be restructured as a public benefit corporation, and that the nonprofit that controls the organization would receive shares in the new company.
OpenAI announces plan to transform into a for-profit company
OpenAI has laid out plans to become a for-profit company. In a blog post published on Friday, OpenAI’s board said it will replace the company’s existing structure with one that puts control into the hands of its for-profit arm.
OpenAI confirms plans to become a for-profit company as it looks to raise even more investor money
OpenAI CEO Sam Altman has said that his company was made “unusual” on purpose. Now, that unusualness is getting in the way of raising more money from investors. In a Friday blog post, the company behind the popular AI chatbot ChatGPT said its board is deep into planning how OpenAI will “become more than a lab and a startup” in 2025.
OpenAI announces official plans to change into a for-profit company
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Confirming rumors, OpenAI details plans to turn into a for-profit company
Rumors that OpenAI plans to spin off its for-profit arm have been swirling since August. The restructuring was reportedly a condition of the ChatGPT developer’s recently closed $6.6 billion funding round: investors can ask for their money back if OpenAI doesn’t complete the reorganization within two years.
OpenAI switching to a for-profit company to raise more cash as it continues to lose money
OpenAI has proposed restructuring its for-profit wing as a PBC to attract investors while maintaining the non-profit; in line with the mission.
5m
on MSN
OpenAI pivots to for-profit model to secure massive AI funding
OpenAI’s $157 billion worth and rising AI development costs pushed it toward a structure that can tap into deeper capital.
5h
on MSN
OpenAI expands DC numbers as they expect friendlier reception by Trump administration
OpenAI is growing the size of its Washington D.C. policy team with the expectation that the Trump administration will be ...
20h
on MSN
Nonprofit group joins Elon Musk’s effort to block OpenAI’s for-profit transition
Encode, a nonprofit AI safety org, has requested permission to file an amicus brief in support of Elon Musk's injunction to ...
23h
To Further Its Mission of Benefitting Everyone, OpenAI Will Become Fully for-Profit
The corporate transition will allow OpenAI to raise more money and finally give its board the freedom to consider what its ...
1d
OpenAI whistleblower's mother wants suicide death investigation reopened
OpenAI whistleblower Suchir Balaji's death was ruled a suicide — but his family is calling on police to reopen their ...
21h
on MSN
Explainer: Why OpenAI plans transition to public benefit corporation
OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it ...
1d
OpenAI defends for-profit shift as critical to sustain humanitarian mission
"We have a nonprofit and a for-profit today, and we will continue to have both, with the for-profit’s success enabling the ...
1d
on MSN
OpenAI's ChatGPT recovers after being hit with outages. Here's what to know.
ChatGPT stopped functioning for many users on Thursday afternoon, with OpenAI saying that its AI app was experiencing ...
22h
on MSN
OpenAI beefs up Washington presence with a pitch for energy and security
The AI industry wants Trump’s Washington to embrace it as a bulwark against China. OpenAI is trying to lead the pack.
11h
OpenAI Launches Its Own Humanoid Robots : What You Need to Know
OpenAI’s bold move into humanoid robotics combines cutting-edge AI with strategic partnerships to transform the future of ...
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Elon Musk
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