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

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Business,Sam Altman,U.S. News

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.

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The company’s board is considering a decision that would change the company into a public benefit corporation, according to a source familiar with the discussions who wasn’t authorized to speak publicly about them.While OpenAI already has a for-profit division, where most of its staff works, it is controlled by a nonprofit board of directors whose mission is to help humanity.

Speaking at a tech conference in Italy, Sam Altman mentioned that OpenAI has been considering an overhaul to get to the"next stage." But he said it was not connected to the Wednesday resignations of Chief Technology Officer Mira Murati and two other top leaders. The resignations of Murati, Chief Research Officer Bob McGrew and another research leader, Barret Zoph, were “just about people being ready for new chapters of their lives and a new generation of leadership,” Altman said.

 

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