“A for-profit company’s obligation is to make money for shareholders,” Michael Dorff, a professor of business law at the University of California Los Angeles, told me. “For a nonprofit, those same ...

We may receive a commission on purchases made from links. On the Friday after Christmas, OpenAI published a blog post titled "Why OpenAI's structure must evolve to advance our mission." In it, the ...

OpenAI announced Tuesday morning that it had completed a tumultuous corporate restructuring effort, simplifying a complex ownership web into a controlling nonprofit entity and a reimagined for-profit ...

OpenAI on Friday clapped back against Elon Musk, one of its co-founders, after the billionaire asked a federal court in November to stop the ChatGPT maker from converting to a fully for-profit ...

OpenAI responded to co-founder Elon Musk on Friday with a new legal filing and a pointed blog post featuring the billionaire's old emails in which he pushed for the AI startup to be for-profit. The ...

Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of ...

OpenAI to become a public benefit corporation, to facilitate funding OpenAI stresses need for capital to fund research for restructuring Musk and Meta oppose OpenAI's switch to for-profit entity ...

OpenAI has been trying to switch from a nonprofit business model to a for-profit corporation for a while now, drawing intense criticism along the way. That's no longer happening now, thanks to the ...

OpenAI and Microsoft Corp (NASDAQ:MSFT) are entering high-stakes negotiations to determine converting Microsoft’s $14 billion investment in OpenAI into equity in the AI company. OpenAI, the creator of ...

NEW YORK (AP) — The artificial intelligence maker OpenAI may face a costly and inconvenient reckoning with its nonprofit origins even as its valuation recently exploded to $157 billion. Nonprofit tax ...

OpenAI posted screenshots showing that Elon Musk, one of its co-founders, pushed for the company to have a for-profit structure as far back as 2017. The AI startup posted the screenshots in response ...