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OpenAI in Talks with California to Become $157 Billion For-Profit Company
Nov 5, 2024, 12:29 AM
OpenAI is in early discussions with the California Attorney General's office to transform its $157 billion business from a non-profit to a for-profit structure. The company, known for its development of ChatGPT, is also engaging with the Delaware Attorney General and has had preliminary discussions with regulators. This move is part of OpenAI's broader strategy to restructure as a for-profit public benefit corporation. The transition may raise questions about the valuation of its intellectual property. Microsoft, a key partner, and Bloomberg have reported on these developments. The talks are being conducted with the office of Attorney General Rob Bonta.
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