Sam Altman's OpenAI Plans Major Revamp Of Corporate Structure

Sam Altman's OpenAI Plans Major Revamp Of Corporate Structure
benzinga.com

by Anusuya Lahiri • 1 month ago

OpenAI plans to restructure as a for-profit Delaware Public Benefit Corporation (PBC) in 2025 to attract significant capital, needing "hundreds of billions of dollars" for its AI initiatives. This shift has faced opposition from co-founder Elon Musk, who claims it abandons nonprofit roots. Key executives are leaving amid internal challenges. The restructuring aims to enable traditional equity investments while the nonprofit arm focuses on charitable efforts in education and healthcare.

Summarized in 80 words

Latest AI Tools

More Tech Bytes...