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OpenAI is shifting to a for-profit corporate structure – here’s why that matters
OpenAI has unveiled its new corporate structure as the tech giant aims to fund the high costs of developing AI — and in particular, artificial general intelligence (AGI). Under the long-rumored plans, OpenAI will change its for-profit unit into a public benefit corporation (PBC), using proceeds from that division to fund the non-profit arm. The structure of OpenAI has been…
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Meta asks California AG to block OpenAI’s switch from non-profit to for-profit
Dear General Bonta: As a California company that builds Generative AI technology, Meta Platforms, Inc. (“Meta”) is deeply concerned about OpenAI’s attempt to shed the non-profit status under which it was founded in order to establish a for-profit entity. We urge you to review this proposed transaction, including the nature and timing of any transfer of assets from OpenAI’s non-profit…
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Elon Musk targets OpenAI’s for-profit transition in a new filing
In a new motion filed late Friday in his lawsuit against OpenAI, Elon Musk’s attorneys have asked for a preliminary injunction to stop OpenAI from transitioning to a for-profit enterprise, reports TechCrunch. They also asked the judge to forbid the company from continuing alleged practices that they say violate US antitrust laws. Musk’s lawyers claim that because of CEO Sam…
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OpenAI plans ‘for-profit’ shift amid leadership departures and restructuring – Computerworld
Notably, this comes as unit costs and price-to-performance ratios for large language models (LLMs) have been dropping significantly, while open-source LLMs have also gained momentum, according to Leslie Joseph, principal analyst at Forrester. “Against this backdrop, OpenAI’s shift to a for-profit structure could allow it to diversify and strengthen its partnerships with major tech giants like Microsoft, Apple, and Nvidia…
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