OpenAI looks to shift away from nonprofit roots and convert itself to for-profit company

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 47 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 63%

Sam Altman News

OpenAI looks to shift away from nonprofit roots and convert itself to for-profit company
Public Benefit Corporation,Nonprofit Research Institute,San Francisco Company

OpenAI's history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company...

OpenAI's history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a for-profit corporation accountable to shareholders.

No final decision has been made by the board and the timing of the shift hasn’t been determined, the source said. “OpenAI will be stronger for it as we are for all of our transitions,” Altman told the Italian Tech Week event in Turin. “I saw some stuff that this was, like, related to a restructure. That’s totally not true. Most of the stuff I saw was also just totally wrong,” he said without any more specificity.

The exits were the latest in a string of recent high-profile departures that also include the resignations of OpenAI co-founder Ilya Sutskever and safety team leader Jan Leike in May. In a statement, Leike had leveledMuch of the conflict at OpenAI has been rooted in its unusual governance structure. Founded as a nonprofit with a mission to safely build futuristic AI to help humanity, it is now a fast-growing big business still controlled by a nonprofit board bound to its original mission.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

YahooFinanceCA /  🏆 47. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines