OpenAI CEO says company could become for-profit corporation, The Information reports
1:37 am Saturday, June 15th, 2024
(Reuters) -OpenAI CEO Sam Altman told some shareholders that the company is considering changing its governance structure to a for-profit business that the firm’s nonprofit board doesn’t control, The Information reported on Friday.
One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the report said, citing a person who heard the comments.
The restructuring discussions are fluid and Altman and his fellow directors could ultimately decide to take a different approach, The Information added.
In response to Reuters’ queries about the report, OpenAI said: “We remain focused on building AI that benefits everyone. The nonprofit is core to our mission and will continue to exist.”
(Reporting by Shivani Tanna and Disha Mishra in Bengaluru; Editing by Sandra Maler and Sam Holmes)
