OpenAI Forced to Abandon Plans to Become For-Profit

Quick Summary:

In a blog post, the Sam Altman-run company announced that it would remain under the control of its original non-profit governing board as it shifts its planned restructuring efforts of its for-profit arm.

Money Matters OpenAI may be raking in the investor dough, but thanks in part to erstwhile cofounder Elon Musk, the company won't be going entirely for-profit anytime soon.

"Our for-profit LLC, which has been under the nonprofit since 2019, will transition to a Public Benefit Corporation (PBC)," the post reads, "a purpose-driven company structure that has to consider the interests of both shareholders and the mission".

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Article Details

Author / Journalist: Noor Al-Sibai

Category: Technology

Markets: United States

Topics: Sam altman The digest OpenAI Elon musk Artificial Intelligence

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-06 @ 22:30:49 (1 days ago)

News Timezone: GMT +8:00

News Source URL: futurism.com

Language: English

Article Length: 428 words

Reading Time: 3 minutes read

Sentences: 11 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Futurism

News ID: 28451082

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