OpenAI Restructures and Seeks Major Investment

OpenAI is transitioning from a nonprofit to a for-profit benefit corporation as it seeks $6.5 billion in new funding, potentially valuing the company at $150 billion. This shift includes giving CEO Sam Altman a 7% equity stake, marking the first time he would hold ownership in the company. The restructuring aims to attract new investments and will end the oversight by its nonprofit board, though the nonprofit will retain a minority stake. The transition coincides with the departure of key executives, including Chief Technology Officer Mira Murati and Chief Research Officer Bob McGrew. Concerns have been raised about the company's commitment to AI safety and its original mission amid these changes. OpenAI was founded in 2015 with the goal of developing AI that benefits humanity, and it gained global attention with the release of ChatGPT in 2022.