OpenAI may restructure its nonprofit structure next year
2024-09-15 00:13:05
15 message openai change its complex miscellaneous company structure possibilitydesk3cryptocurrencydesktopCrypto News
On September 15th, it became increasingly likely that OpenAI was about to transform its complex corporate structure.
Earlier this week, it was reported that the company was in talks to raise $6.50 billion at a pre-investment valuation of $150 billion. Now, according to Reuters, the deal depends on whether OpenAI can restructure and remove profit caps for investors.
And according to Fortune, co-founder and CEO Sam Altman told employees at a company-wide meeting that OpenAI's structure is likely to change over the next year to bring it closer to a traditional for-profit enterprise. OpenAI's current structure is that its for-profit division is controlled by a nonprofit organization, which appears to have disappointed investors.
OpenAI said in a statement: "We remain focused on building artificial intelligence that benefits all, and as we have said before, we are working with our board to ensure we can deliver on our mission at its best. Nonprofits are at the heart of our mission and will continue to exist."
Earlier this week, it was reported that the company was in talks to raise $6.50 billion at a pre-investment valuation of $150 billion. Now, according to Reuters, the deal depends on whether OpenAI can restructure and remove profit caps for investors.
And according to Fortune, co-founder and CEO Sam Altman told employees at a company-wide meeting that OpenAI's structure is likely to change over the next year to bring it closer to a traditional for-profit enterprise. OpenAI's current structure is that its for-profit division is controlled by a nonprofit organization, which appears to have disappointed investors.
OpenAI said in a statement: "We remain focused on building artificial intelligence that benefits all, and as we have said before, we are working with our board to ensure we can deliver on our mission at its best. Nonprofits are at the heart of our mission and will continue to exist."
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