OpenAI Plans to End Nonprofit Board’s Control, Reuters Says (1)

OpenAI, the artificial intelligence startup behind ChatGPT, is working on a plan to restructure so that its nonprofit board would no longer control its main business, Reuters reported, citing people familiar with the matter.

The nonprofit arm of OpenAI would continue to exist and would own a minority stake in the for-profit company, the news service reported on Wednesday, without identifying its sources. Co-founder and Chief Executive Officer Sam Altman will be given equity in the for-profit company, which could potentially be worth $150 billion following the restructuring, the report said.

San Francisco-based OpenAI didn’t immediately respond to ...