OpenAI walks back for-profit plan, nonprofit to keep control

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OpenAI is backtracking on plans to become a more conventional for-profit company after facing mounting pressure from former employees, academics and rivals, including billionaire Elon Musk.

The ChatGPT maker said Monday that it’s moving forward with an effort to restructure its for-profit division as a public benefit corporation, but the overall business will instead remain under the control of its nonprofit — a major shift in its plans that will effectively maintain the contours of how OpenAI is currently set up.

“We made the decision for the…



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OpenAI walks back for-profit plan, nonprofit to keep control


OpenAI is backtracking on plans to become a more conventional for-profit company after facing mounting pressure from former employees, academics and rivals, including billionaire Elon Musk.

The ChatGPT maker said Monday that it’s moving forward with an effort to restructure its for-profit division as a public benefit corporation, but the overall business will instead remain under the control of its nonprofit — a major shift in its plans that will effectively maintain the contours of how OpenAI is currently set up.

“We made the decision for the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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