OpenAI is reportedly planning a major shift in its corporate structure, moving away from its original non-profit roots.
To attract investors, ChatGPT creator is preparing to reorganise its main operations into a for-profit benefit corporation that will be independent of its non-profit board, according to a source.
The report suggested the non-profit OpenAI will stay in operation and own a small share in the for-profit business.
According to further sources, the for-profit business, which aims to lift the ceiling on investor returns, may be valued $150 billion following the restructure.
Chief executive Sam Altman will also have shares in the company for the first time. The sources want to remain anonymous in order to talk about personal issues.
"We remain focused on building AI that benefits everyone, and we’re working with our board to ensure that we’re best positioned to succeed in our mission. The non-profit is core to our mission and will continue to exist," an OpenAI spokesperson said.
The planned organisational structure's specifics, which were first made public by Reuters, provide light on major governance reforms that are taking place at one of the biggest AI businesses.
According to the sources, the restructuring's completion date is still up in the air and the plan is still being worked out with shareholders and solicitors.
