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OpenAI and Microsoft jointly announced that they have reached a deal to complete OpenAI’s restructuring into a more traditional for-profit corporation. As part of the deal, early investor Microsoft will get a 27% stake in OpenAI, worth around $135 billion. The tech giant will also retain access to OpenAI’s technology through 2032, including any models … Read more
OpenAI on Tuesday said it had completed its recapitalization, splitting the AI lab into a for-profit corporation nested inside a non-profit foundation. It’s the end result of a complex legal process that had been strenuously resisted by its estranged co-founder, Elon Musk. Under the new structure, the non-profit OpenAI Foundation will have legal control over … Read more
OpenAI announced Thursday it reached a non-binding agreement with Microsoft, its largest investor, on a revised partnership that would allow the startup to convert its for-profit arm into a public benefit corporation (PBC). The transition, should it be cleared by state regulators, could allow OpenAI to raise additional capital from investors and, eventually, become a … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. OpenAI is abandoning plans to turn itself into a for-profit company, keeping the maker of ChatGPT under the control of a non-profit board after intense criticism from Elon Musk. The artificial intelligence company has been … Read more
More than 30 top experts—including nine former OpenAI employees—have urged the attorneys general of California and Delaware to intervene in OpenAI’s proposed restructuring, which would allow the company to buy itself out from under its nonprofit’s control. In an open letter, they warn that the move would eliminate key governance safeguards and endanger OpenAI’s founding … Read more
A group of ex-OpenAI employees on Friday filed a proposed amicus brief in support of Elon Musk in his lawsuit against OpenAI, opposing OpenAI’s planned conversion from a nonprofit to a for-profit corporation. The brief, filed by Harvard law professor and Creative Commons founder Lawrence Lessig, names 12 former OpenAI employees: Steven Adler, Rosemary Campbell, … Read more
Sam Altman, left, and Elon Musk. Muhammed Selim Korkutata | Anadolu | Getty Images A group of 12 ex-OpenAI staffers, in support of Elon Musk’s lawsuit against the artificial intelligence startup, asked a court’s permission on Friday to share their concerns about the company’s transformation into a for-profit entity. The individuals collectively worked at OpenAI … Read more
Sam Altman, CEO of OpenAI, at Station F, is seen through glass, during an event on the sidelines of the Artificial Intelligence Action Summit in Paris, France, Feb. 11, 2025. Aurelien Morissard | Via Reuters OpenAI’s massive private funding round could be slashed by as much as $10 billion if the company doesn’t restructure into … Read more
Elon Musk lost the latest battle in his lawsuit against OpenAI this week, but a federal judge appears to have given Musk — and others who oppose OpenAI’s for-profit conversion — reasons to be hopeful. Musk’s suit against OpenAI, which also names Microsoft and OpenAI CEO Sam Altman as defendants, accuses OpenAI of abandoning its … Read more
U.S. District Judge Yvonne Gonzalez Rogers ruled late Tuesday that “Musk has not demonstrated likelihood of success on the merits” in his request for a preliminary injunction. Read More
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