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Snapshot 4:Thu, Sep 26, 2024 5:18:48 PM GMT last edited by Brian

Report: OpenAI Becoming For-Profit, Giving Altman a Stake

Report: OpenAI GoingBecoming For -Profit, Giving Altman a Stake

Above: Open AI Chief Executive Officer Sam Altman (C) speaks at the Advancing Sustainable Development through Safe, Secure, and Trustworthy AI Event at Grand Central Terminal on September 23, 2024 in New York. Image copyright: Bryan R. Smith/Contributor/AFP via Getty Images

The Facts

  • OpenAI, the creator of artificial intelligence (AI) chatbot ChatGPT, is reportedly planning to shift from its current nonprofit status to becoming a for-profit company. CEO Sam Altman, who previously said he wouldn't take a financial a share, will reportedly now receive equity.

  • While the nonprofit side will maintain a minority stake in the company, the for-profit change is reportedly expected to entice new investors, including Apple, Nvidia, and United Arab Emirates MGX.


The Spin

OpenAI has already changed the world for the better, which is why its nonprofit arm will remain a crucial part of the new corporation. However, to accomplish the technological pursuits required to further benefit humanity, the company will need enough financial backing, and thus seek business partnerships with tech powerhouses like Apple.

While Altman publicly claims that this move is to further OpenAI's initial nonprofit mission, privately he's been pushing the organization away from its altruistic philosophy for some time. This is why founding members and other longtime employees have been leaving in droves, including top scientists. Those on the inside have seen this coming for a while.



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