OpenAI to Restructure as For-Profit, Grant Sam Altman $150 Billion Equity

Sep 25, 2024, 08:32 PM

OpenAI is planning to restructure its core business into a for-profit benefit corporation, removing control from its non-profit board. CEO Sam Altman will receive equity for the first time as part of this transition. The company is valued at $150 billion. This shift, reported by Reuters, aims to attract more investors while the non-profit arm will retain a minority stake in the new entity.