ChatGPT-maker OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board.
The OpenAI non-profit will continue to exist and own a minority stake in the for-profit company.
The move could also have implications for how the company manages AI risks in a new governance structure.
Chief executive Sam Altman will also receive equity for the first time in the for-profit company, which could be worth $150 billion after the restructuring as it also tries to remove the cap on returns for investors.
OpenAI is discussing giving CEO Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business. Tap on 'Learn more' for more info.