On Wednesday, Microsoft Corp (NASDAQ:MSFT)-backed OpenAI, the creator of ChatGPT, announced a shift from a non-profit to a for-profit benefit corporation to make the AI startup more appealing to potential investors.
CEO Sam Altman may receive equity in the for-profit company, which could be valued at $150 billion after restructuring.
While the non-profit board will no longer oversee the company, the non-profit entity is expected to retain a minority stake in the new for-profit structure.
On Wednesday, Mira Murati, OpenAI’s chief technology officer, released a written statement stating that, after much reflection, she has “made the difficult decision to leave OpenAI.”
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