OpenAI in early talks with regulators to convert to for-profit company

OpenAI, the $157 billion artificial intelligence company founded in 2015 as a nonprofit, is in preliminary discussions with the California and Delaware attorneys general to convert to a for-profit public benefit corporation. According to two people familiar with the matter, the process will likely involve regulators examining how OpenAI values its intellectual property assets, such as the ChatGPT app. OpenAI declined to comment on the talks but stated the nonprofit would continue to exist and receive full value for its stake in any restructuring, as per board chairman Bret Taylor. The move could attract investors but raise questions about OpenAI’s original mission. Source: Bloomberg