'Need to raise more capital than we’d imagined': OpenAI announces plans to transition from non-profit structure
The restructuring isn’t without opposition. Last month, Elon Musk filed a motion to block OpenAI’s shift to for-profit status, while Meta CEO Mark Zuckerberg urged California Attorney General Rob Bonta to intervene. Critics argue the change could compromise OpenAI’s original mission as a nonprofit research lab dedicated to AI for public good.
OpenAI lays out its for-profit transition plans
One of OpenAI’s co-founders, billionaire Elon Musk, has filed for an injunction to halt the company’s transition to a for-profit, accusing OpenAI of abandoning its original philanthropic mission. Musk has also alleged that OpenAI has deprived his own AI company, xAI, of capital by extracting promises from investors not to fund it.
OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it ...
OpenAI has revealed a plan to restructure its operations and more cleanly separate the for-profit and non-profit arms of its ...
Elon Musk’s artificial intelligence startup xAI revealed that it raised $6 billion in its latest funding round as the startup ...
Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million ...
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Meet the key figures at Elon Musk's xAI, the $50 billion startup behind the chatbot Grok that's taking on ChatGPT.
OpenAI announced plans to become a public benefit corporation and shed the control of its nonprofit board. Elon Musk and Meta ...
Elon Musk's AI startup, xAI, has successfully raised another $6 billion in Series C funding. This funding will be used to ...
OpenAI plans to restructure into a for-profit company in 2025, highlighting the need for significant capital. This move has ...
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