OpenAI’s restructuring will see it become a for-profit company

📆 26/09/2024 19:06:00
📰 DigitalTrends

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OpenAI is reportedly planning to scrap the nonprofit structure of its core business in favor of a for-profit model that will be more attractive to investors.

Reuters reports that, in an effort to make itself more attractive to investors, OpenAI plans to scrap the nonprofit structure of its core business, thereby removing the authority of its board of directors, as well as granting CEO Sam Altman equity in the company.

Recommended Videos Sam Altman could receive as much as $150 billion in equity from the restructured company. That’s quite the reversal of fortunes for Altman, who, just last November, had been fired from OpenAI by its board of directors.

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