OpenAI, the developer of ChatGPT, is restructuring to transition from a nonprofit to a for-profit benefit corporation, aiming to enhance its appeal to investors. This shift will allow CEO Sam Altman to gain an equity stake for the first time, while the nonprofit arm will retain a minority stake but with reduced operational influence.
The restructuring is expected to increase OpenAI's valuation to approximately $150 billion, facilitating a new funding round to further accelerate growth in artificial intelligence.
However, the governance change has raised concerns among AI safety advocates, especially following the disbandment of its superalignment team, which focused on mitigating long-term AI risks. Critics worry that prioritizing profit could undermine OpenAI's commitment to responsible AI development.
The transition coincides with significant leadership changes, including the departure of Chief Technology Officer Mira Murati, who cited the need for personal exploration. Her exit follows that of other top executives, raising questions about the company's direction during this pivotal moment.
OpenAI, founded in 2015 as a nonprofit, gained prominence with the launch of ChatGPT in 2022. As it navigates this major restructuring, the company aims to balance investor demands with its mission of developing AI that benefits humanity.