OpenAI explores for-profit transition with CEO 7% equity stake, considering IPO, maintaining commitment to societal AI benefits.
OpenAI is considering a transition from a nonprofit to a for-profit corporation, allowing CEO Sam Altman to receive a 7% equity stake. This restructuring aims to attract investors and could lead to an initial public offering, while the nonprofit will retain a minority stake. The change comes amid executive departures and an effort to raise funding at a $150 billion valuation, all while maintaining a commitment to AI that benefits society.
September 25, 2024
244 Articles