Forbes Daily: OpenAI Creates $500 Billion For-Profit Arm

Forbes Daily: OpenAI Creates $500 Billion For-Profit Arm

Today’s Forbes Daily newsletter covers Nvidia's premarket boost, Apple joins the $4 trillion club, consumer confidence tumbles, PayPal is coming to ChatGPT and more.

OpenAI Will Now Operate Like a For-Profit Company

The nonprofit side has a new name, but still controls the for-profit arm.

OpenAI transitions into a for-profit organisation

OpenAI announced the completion of its transition into a for-profit entity, a move that positions it to raise substantial investment and potentially pursue a future stock market listing.

OpenAI completes for-profit shift

OpenAI completed a recapitalisation plan to split the company up by placing its AI laboratory into a for-profit corporation within its non-profit foundation. The non-profit entity is now named the OpenAI Foundation and retains control over the for-profit arm which was restructured as OpenAI Group, a public benefit corporation, chair Bret Taylor explained in a blog. OpenAI Foundation holds an equity stake in the for-profit company currently value…

OpenAI Restructures to Become a More Traditional For-Profit Company

SAN FRANCISCO -- OpenAI said Tuesday that it had adopted a new for-profit structure, a long-sought change that could allow the business to operate like a more traditional company while it raises the billions of dollars it needs to develop…