It’s becoming increasingly likely that OpenAI will soon overhaul its complex corporate structure.
Recent reports have indicated that the AI company is in discussions to raise $6.5 billion, valuing the company at $150 billion pre-money. However, according to Reuters, this deal hinges on whether OpenAI can restructure and eliminate its current profit cap for investors.
Fortune reported that during a company-wide meeting, CEO and co-founder Sam Altman informed employees that OpenAI’s structure is expected to change next year, potentially aligning the organization closer to a traditional for-profit model. Presently, OpenAI’s for-profit entity is controlled by a non-profit, a structure that appears to frustrate some investors.
In a statement, OpenAI reiterated its focus on building AI that serves the broader public: “As we’ve shared before, we’re collaborating with our board to ensure we are best positioned to achieve our mission. The nonprofit remains central to this mission and will continue to exist.
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