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Stargate Project, incorporated in Delaware as Stargate LLC, [1] is an American artificial intelligence (AI) joint venture created by OpenAI, SoftBank, Oracle, and investment firm MGX. [2] The venture plans on investing up to US$500 billion in AI infrastructure in the United States by 2029.
For OpenAI, part of becoming an enduring company is satisfying its seemingly insatiable appetite for money. Despite having recently raised $6.6 billion, the largest venture capital round in ...
The ousting and return of OpenAI CEO Sam Altman in 2023 thrust the company's nonprofit board governance structure into the spotlight. Jason Redmond/AFP/Getty Images OpenAI shared new details about ...
The company then distributed equity to its employees and partnered with Microsoft, [38] announcing an investment package of $1 billion into the company. Since then, OpenAI systems have run on an Azure-based supercomputing platform from Microsoft. [39] [40] [41] OpenAI Global, LLC then announced its intention to commercially license its ...
OpenAI plans to restructure into a for-profit company, moving away from nonprofit board oversight. Key executives have also departed in recent months, citing concerns about OpenAI's future.
OpenAI and its biggest backer, Microsoft, are discussing how to divide up the spoils of the AI upstart when it becomes a for-profit company, but agreeing on a fair market value for those assets ...
The holding company is the majority owner of OpenAI Global, LLC.; Microsoft owns a minority stake in the capped-profit company. [14] OpenAI's bylaws, enacted in January 2016, allow a majority of its board of directors to remove any director without prior warning or a formal meeting with written consent. [15]
OpenAI is in preliminary talks with the California attorney general's office about the process to become a for-profit company, Bloomberg reported. OpenAI is making moves toward becoming a for ...