OpenAI pivots to for-profit model to secure massive AI funding
OpenAI’s $157 billion worth and rising AI development costs pushed it toward a structure that can tap into deeper capital.
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OpenAI Admits It Needs Vastly More Money Than It Thought
OpenAI says it wants to transform into a for-profit corporation because it needs "to raise more capital than we'd imagined." ...
OpenAI defends for-profit shift as critical to sustain humanitarian mission
"We have a nonprofit and a for-profit today, and we will continue to have both, with the for-profit’s success enabling the ...
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OpenAI Startup Fund raises $44M in its largest SPV yet
The OpenAI Startup Fund, the early-stage AI investor affiliated with OpenAI, recently disclosed in a financial filing that it has raised over $44 million for its fifth Special Purpose Vehicle (SPV ...
OpenAI outlines new for-profit structure to stay ahead
OpenAI outlines new for-profit structure in bid to stay ahead in costly AI race. It plans to become a public benefit ...
Sam Altman once owned some equity in OpenAI through Sequoia
OpenAI CEO Sam Altman sat before Congress in 2023 to testify about the dangers of AI. He told American lawmakers at the time ...
A timeline of OpenAI's rocky 2024
OpenAI's biggest moments in 2024 included lawsuits, Sam Altman's comeback, a historic funding round, and a legal fight with ...
OpenAI reveals new details about its plan to convert to a for-profit structure: 'We have to become an enduring company'
OpenAI is planning to convert its for-profit arm to a public benefit corporation in Delaware "with ordinary shares of stock." ...
Elon Musk’s xAI Raises $6 Billion in New Funding
A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia ...