“OpenAI is working to restructure its core business into a for-profit corporation with social responsibilities that will no longer be controlled by a non-profit board.”, — write: www.epravda.com.ua
OpenAI is working to restructure its core business into a for-profit corporation with social responsibilities that will no longer be controlled by a non-profit board.
This was reported by sources familiar with the situation in a Reuters comment.
It is noted that such a step should make the company more attractive to investors.
The nonprofit OpenAI will continue to exist and hold a minority stake in the commercial company, the sources said. This change may also affect the management of risks related to artificial intelligence in the new governance structure.
CEO Sam Altman will for the first time receive shares in a commercial company that could be valued at $150 billion after restructuring.
According to Bloomberg, Altman will receive a 7% stake and his fortune could soar by more than $10 billion.
It is also planned to abolish restrictions on investors’ profits, the sources added.
Details of the proposed corporate structure, first reported by Reuters, signal a major change in the management of one of the most important artificial intelligence companies. The plan is still being negotiated with lawyers and shareholders, and a timeline for completing the restructuring remains uncertain, the sources said.