Benzinga
  • 2 days ago
OpenAI announced plans to transition into a public benefit corporation in 2025, removing nonprofit restrictions to allow commercial operations akin to a high-growth startup. The shift aims to attract conventional equity investments and raise substantial capital. The company is valued at $157 billion. It expects $5 billion in losses on over $3 billion in revenue this year. OpenAI has faced criticism over safety concerns and leadership departures. Founder Sam Altman insists the restructuring will align with long-term goals despite legal opposition from Elon Musk.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02OpenAI announced plans to transition into a public benefit corporation in 2025,
00:07removing non-profit restrictions to allow commercial operations akin to a high-growth startup.
00:12The shift aims to attract conventional equity investments and raise substantial capital.
00:16The company is valued at $157 billion and expects $5 billion in losses on over $3 billion in revenue
00:23this year. OpenAI has faced criticism over safety concerns and leadership departures.
00:29Founder Sam Altman insists the restructuring will align with long-term goals,
00:33despite legal opposition from Elon Musk.

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