💨 Abstract
OpenAI, a startup developing AI models, must transition to a for-profit company by the end of the year to secure a $40 billion funding led by SoftBank. If it fails to do so, SoftBank may reduce the funding to $20 billion. This accelerates the deadline for OpenAI's complicated transition, originally under a two-year deadline from its last round of financing. The move is aimed at securing the capital required for developing advanced AI models.
Courtesy: theprint.in
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