OpenAI, Valued at $157 Billion, in Talks with California to Become For-Profit Company Led by Sam Altman

Nov 5, 2024, 03:01 AM

OpenAI is in early discussions with California regulators to transition from a non-profit to a for-profit company. The company, which is valued at $157 billion, aims to restructure its corporate status while maintaining its mission of safe AI. Preliminary talks have also been held with the Delaware Attorney General's office. This move follows a recent $6.6 billion funding round. The restructuring plan includes the possibility of becoming a public benefit corporation, balancing AI ethics and commercial interests. Microsoft ($MSFT) is a significant stakeholder in the company. OpenAI is led by CEO Sam Altman.