OpenAI, the creator of ChatGPT, is reportedly restructuring to become a for-profit company, aiming to attract $6.5 billion in new funding. This shift follows the departure of several senior executives, including Chief Technology Officer Mira Murati, who announced her exit after six and a half years with the company.
Founded as a nonprofit in 2015, OpenAI initially adopted a 'capped profit' model in 2019 but retained a nonprofit board to oversee its activities. The new structure will eliminate this board's control, allowing shareholders, including CEO Sam Altman, to have a more significant role.
Altman is expected to gain equity worth up to $150 billion as part of this transition. Despite the changes, OpenAI maintains that its nonprofit mission will continue, with a spokesperson affirming their commitment to building AI that benefits everyone.
Concerns have been raised about the implications of this shift on AI safety, particularly as former employees express worries about prioritizing profit over responsible development. The restructuring process is ongoing and may extend into next year.