OpenAI Restructures, Eyes $150B Valuation
OpenAI Restructures, Eyes $150B Valuation
OpenAI Restructures, Eyes $150B Valuation
News summary

OpenAI is planning a significant corporate restructuring to transition from its non-profit roots to a more traditional for-profit model by 2025, aiming for a potential $150 billion valuation. CEO Sam Altman has stepped down from the company's Safety and Security Committee to ensure more independent oversight, with the newly independent committee being chaired by Zico Kolter and including notable figures like Adam D'Angelo and Paul Nakasone. This move comes amid heightened scrutiny from lawmakers and concerns about the company’s safety policies. The shift aims to attract further investment, with a new funding round potentially involving major tech companies such as Microsoft, Nvidia, and Apple, contingent on the removal of the profit cap for investors. OpenAI's rapid revenue growth and successful commercial products, such as ChatGPT, have fueled investor interest. Despite the structural changes, OpenAI maintains that its non-profit arm will continue to exist and support its mission of developing beneficial AI.

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