OpenAI co-founder and CEO Sam Altman announced the upcoming changes to the company’s structure at its weekly staff meetings. Next year, corporations will try to move away from the setup where one nonprofit division controls another for-profit one.
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Altman called the current plan “confusing” and even “unusual” and admitted that the company had already outgrown it, writes Fortune. Moreover, outside investors such as Microsoft are investing billions of dollars in the business area, so it is logical to build a new corporate structure. He did not specify the details of this structure.
The rumors of a restructuring come after reports that Altman intends to do so to reassure investors who are more comfortable working with a business structure similar to most other big companies in the tech industry.
And with the company in the process of raising new funding and expecting a $150 billion valuation, the nonprofit structure is becoming increasingly uncomfortable. For investors, the change means a more secure potential return on their investment.
Still, Altman emphasizes, “We remain focused on creating AI that benefits everyone and are working with our board of directors to ensure we are best positioned to succeed in our mission. This mission is essentially a nonprofit and will continue to exist.”
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Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
