💨 Abstract

OpenAI, the company behind ChatGPT, is planning to restructure as a for-profit benefit corporation, no longer controlled by its non-profit board. This change will make the company more appealing to investors, with CEO Sam Altman receiving equity for the first time, potentially worth $150 billion. The OpenAI non-profit will continue to exist, owning a minority stake.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖