OpenAI reportedly considering shift to for-profit as CEO stacks board
The reported discussions come as the company adds a former NSA director to its board.
Artificial intelligence (AI) company OpenAI is reportedly considering making the shift from a capped-profit corporation to an unfettered for-profit model.
First reported by The Information, CEO and co-founder Sam Altman allegedly told shareholders he was considering the move sometime during the week of June 10. If realized, the pivot would ostensibly result in OpenAI’s non-profit board losing control of the company.
OpenAI currently has a purported private valuation of approximately $86 billion. Its current structure is described as “a partnership between our original Nonprofit and a new capped profit arm” on the company’s website.
Go to Source
Author: Tristan Greene
