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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 FTC released a staff report about partnerships between cloud service providers and AI companies. The report raises antitrust concerns about deals between industry leaders like OpenAI and ...
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 ...
Sam Altman is returning as OpenAI’s CEO, ending a days-long power struggle that began with his firing late Friday afternoon.The AI developer behind ChatGPT also has a new board, including former ...
In 2019, OpenAI transitioned from non-profit to "capped" for-profit, with the profit being capped at 100 times any investment. [34] According to OpenAI, the capped-profit model allows OpenAI Global, LLC to legally attract investment from venture funds and, in addition, to grant employees stakes in the company. [35]
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 ...
OpenAI's application to the IRS appears typical, said Andrew Steinberg, counsel at Venable LLP and a member of the American Bar Association’s nonprofit organizations committee.
OpenAI is transitioning to a for-profit company so it can raise billions more in funding. The company has operated under a nonprofit board since its launch, adding a for-profit arm in 2019.