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

Sep 25, 2024, 08:22 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 in the newly structured entity, which is valued at $150 billion. This move marks a significant shift for OpenAI, which was originally established as a non-profit organization. The restructuring aims to allow more flexibility and access to capital for future growth and development. Reuters reported that Mira Murati, the former CTO, has resigned.