Janice R. Andrews
Big changes are on the horizon for OpenAI! A recent report from Reuters reveals that the company is gearing up to transition from a non-profit to a for-profit corporation. This shift means that CEO Sam Altman will finally receive equity in the company.
While the non-profit side of OpenAI will still be around, it will have less control in the new setup. The non-profit will own a stake, but its influence will shrink significantly.
In their statement, OpenAI emphasized their commitment to developing AI that benefits everyone, ensuring that their mission remains intact during this transition. The new for-profit model could potentially skyrocket OpenAI’s value to around $150 billion and lift the cap on returns for investors.
Altman has been advocating for this shift for some time now, though it’s still unclear when the change will take effect as they navigate the legal process.
