OpenAI's skyrocketing valuation is closely tied to its ability to disrupt traditional corporate structures.
According to source, OpenAI's next round of funding is anticipated to take the form of convertible notes. These people also stated that the company's $150 billion valuation is subject on whether the company can change its corporate structure and do away with a profit cap for investors.
It has been unreported until now, but the specifics of the $6.5 billion funding's terms demonstrate how far OpenAI, the most valuable AI startup globally, has come from a research-based non-profit and the structural adjustments it is prepared to make to draw even more capital for its costly quest of artificial general intelligence, or AI that outperforms human intelligence.
Given the explosive rise in OpenAI's income, the next financing round is expected to be completed in the next two weeks due to considerable investor interest, according to further sources.
It is anticipated that current investors including Microsoft, Khosla Ventures, and Thrive Capital will take part.
New investors who want to invest, including Apple, open a new tab, and Nvidia Talks are also on for Sequoia Capital to return as an investor.
"The nonprofit is core to our mission and will continue to exist," the company spokesperson said.
The non-profit board of OpenAI, which is made up of businessman Bret Taylor, chief executive Sam Altman, and seven other members, would need to approve the lifting of the profit restriction.
