US EditionOpenAI struggles to price Microsoft stake in deal to become for-profit company
- OpenAI is exploring a shift from a nonprofit to a for-profit public benefit corporation, which has raised concerns about its charitable status and asset management.
- The California Attorney General's Office is investigating OpenAI's restructuring plans and has requested information regarding asset transfers.
- Critics, including Public Citizen co-president Robert Weissman, argue that OpenAI should lose its nonprofit status and pay a premium for its control if it becomes for-profit.
- OpenAI's recent actions, including the Stargate project, have led to claims that the nonprofit board lacks authority over the for-profit operations.
13 Articles
13 Articles
Cal Matters
OpenAI's nonprofit status questioned by California AG - The Sacramento Observer
California's attorney general's office investigates OpenAI's potential for-profit conversion, raising concerns over asset transfers and charitable trust.
California Is Investigating OpenAI’s Conversion To a For-Profit Company – The Markup
The state’s attorney general asked the company how it plans to transfer assets out of its charitable nonprofit Attorney General Rob Bonta has asked OpenAI about its reported conversion to a for-profit company as part of an ongoing investigation. Bonta during a press conference in Sacramento on Sept. 26, 2023. Photo by Miguel Gutierrez Jr., CalMatters As part of what it described as an ongoing investigation, the California attorney general’s off…
California attorney general is investigating OpenAI’s conversion to a for-profit company - Local News Matters
As part of what it described as an ongoing investigation, the California attorney general’s office has sought answers from OpenAI about its reported plan to convert to a for-profit corporation and how it intends to transfer assets out of its existing nonprofit.In a letter sent to the ChatGPT maker Dec. 6, deputy attorney general Christopher Lamerdin cited clauses in OpenAI’s articles of incorporation under which “OpenAI’s assets are irrevocably …
OpenAI's for-profit evolution hits a major roadblock — as the ChatGPT maker struggles to establish Microsoft's equity in its reportedly $30 billion charitable arm
OpenAI is reportedly deliberating transforming into a for-profit entity. However, the process has seemingly been stunted as the ChatGPT maker struggles to determine Microsoft's equity in the public benefit corporation, which could be valued at $30 billion.
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