OpenAI Considers Shift to Full For-Profit Model

Artificial intelligence (AI) company OpenAI is reportedly contemplating a transition from a capped-profit corporation to a full for-profit model. CEO and co-founder Sam Altman allegedly informed shareholders about this potential shift during the week of June 10, as reported by The Information. If implemented, this change would result in OpenAI’s nonprofit board losing control of the company. OpenAI currently boasts a private valuation of around $86 billion. The company’s website describes its structure as a partnership between the original nonprofit and a new capped profit arm. The capped profit model was designed to incentivize research in artificial general intelligence (AGI)

Source: CryptoIntelligence