OpenAI on Monday announced a proposed restructuring that would give its nonprofit arm ongoing control of ChatGPT and the rest of the startup’s AI products. The move is a reversal of an earlier announcement that called for the nonprofit to relinquish its authority to a newly created public-benefit corporation.
The proposed company structure has to be approved by the attorney general offices in California and Delaware by early next year. Up to $30 billion in funding from SoftBank and other investors is contingent on this approval. That money is crucial for OpenAI to maintain its position as a leader in generative AI and give higher returns to investors. Previously, those
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