OpenAI quits its ambitions to become a for-profit company
OpenAI has decided not to become a for-profit company. The founding non-profit organization will continue to maintain control over the ChatGPT developer.
The details
- The existing for-profit LLC will transition to a Public Benefit Corporation (PBC), and the founding organization will become a major shareholder. Companies like Anthropic also use this purpose-driven company structure.
- OpenAI made this decision after having a constructive discussion with the attorneys general of California and Delaware.
- Reports indicate that some of the capital OpenAI has raised is linked to its transition to a for-profit organization.
Our thoughts
This step was a big surprise because OpenAI and Sam Altman (CEO) have been working for months on converting it into a for-profit organization. Additionally, Elon Musk has filed a lawsuit against this approach, as it disregards the founding mission.
It all seems very confusing and unprofessional. According to Bloomberg, Microsoft has not yet officially agreed to OpenAI’s revised plan. We’ll have to wait and see what happens with OpenAI.
More information: 🔗 OpenAI | Bloomberg
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