OpenAI announces plan to transform into a for-profit company
Going into 2025, OpenAI plans to become a Public Benefit Corporation⁠ (PBC), which is a for-profit company meant to operate for the good of society. This division will “run and control OpenAI’s operations and business,” while OpenAI’s nonprofit will retain a stake in the business but lose its oversight role.
OpenAI says it needs ‘more capital than we’d imagined’ as it details for-profit plan
OpenAI said it needs “more capital than we’d imagined” as the Sam Altman-led artificial intelligence pioneer outlined plans for revamping into a for-profit company. Under the proposed structure, the ChatGPT maker’s existing for-profit arm will become a Delaware public benefit corporation (PBC) — a company that is structured to consider the interests of society in addition to shareholder value.
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 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 will be restructured as a public benefit corporation, and the nonprofit that controls the organization would receive shares in the new company.
OpenAI lays out plan to shift to new for-profit structure
OpenAI on Friday laid out a plan to revamp its corporate structure next year, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its current non-profit parent.
OpenAI reveals new details about its plan to convert to a for-profit structure: 'We have to become an enduring company'
OpenAI is planning to convert its for-profit arm to a public benefit corporation in Delaware "with ordinary shares of stock."
OpenAI unveils for-profit plans
CNBC's Kate Rooney joins 'Money Movers' to discuss OpenAI's for-profit plans. Biden stands by ‘surge of weapons’ to Ukraine as Trump handover looms CC Sabathia Names Which Team's Cap He Wants On His Hall of Fame Plaque What’s the Difference Between Diet Soda and Zero-Sugar Soda?
OpenAI's for-profit plan includes a public benefit corporation
The move] would enable us to raise the necessary capital with conventional terms like others in this space.” As part of the transformation, OpenAI’s nonprofit division would retain a stake in the for-profit unit in the form of shares “at a fair valuation determined by independent financial advisors,
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 investors want.
OpenAI reveals how it will transform into a for-profit company
OpenAI is getting a corporate makeover. The ChatGPT maker revealed in a company blog post (via The New York Times) that it plans to undergo some changes at the structural level soon. Specifically, OpenAI will become a Public Benefit Corporation,
OpenAI outlines new for-profit structure in bid to stay ahead in costly AI race
OpenAI on Friday outlined plans to revamp its structure, saying it would create a public benefit corporation to make it ...
Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions
Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million ...
Elon Musk’s xAI raises $6B to bolster battle against OpenAI: ‘Gonna need a bigger compute!’
Elon Musk’s artificial intelligence startup xAI revealed that it raised $6 billion in its latest funding round as the startup ...
Meet the power players at Elon Musk's xAI, the startup taking on OpenAI with its Grok chatbot
Meet the key figures at Elon Musk's xAI, the $50 billion startup behind the chatbot Grok that's taking on ChatGPT.
Leaked Documents Show OpenAI Has a Very Clear Definition of ‘AGI’
But OpenAI has received more than $13 billion in funding from Microsoft over the years, and that money has come with a ...
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 ...
Neowin3h
OpenAI will be transforming its for-profit into a Delaware Public Benefit Corporation
After months of speculation, OpenAI today officially announced that it is changing its corporate structure to best support its mission. Back in 2015, OpenAI started as a nonprofit. Since it faced ...