Official announcement from OpenAI or reliable news sources such as Reuters or Bloomberg

OpenAI to Restructure as For-Profit, Valued at $150 Billion: Reuters

Sep 25, 2024, 08:39 PM

OpenAI, the maker of ChatGPT, is planning to restructure its core business from a non-profit organization to a for-profit benefit corporation. This restructuring, reported by Reuters, will result in the non-profit board losing control, although it will retain a minority stake. Sam Altman, the CEO of OpenAI, will receive equity in the company for the first time. The company is valued at $150 billion. This shift aims to attract more investors and enhance the company's growth potential. Additionally, Mira Murati, the former CTO, has resigned.