OpenAI has withdrawn its plan to become a for-profit entity, a move initially intended to raise funds amid increasing competition in development. The decision was made after discussions with the Attorneys General of California and Delaware. OpenAI will now restructure into a Public Benefit Corporation (PBC) that pursues both profit and public interest, but the nonprofit organization will maintain control over the business. The decision to abandon the for-profit conversion was due to opposition from various sectors, including Elon Musk and major investor SoftBank Group.
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Auto-posted at: 2025-05-06 21:03:09