OpenAI is closing in on raising $6.5 billion — the largest venture capital raise in history. But in order to do so it looks like it will need to do the Delaware equivalent of selling its soul — it will have to overhaul its governance structure so that it's no longer controlled by a nonprofit organization.

Reuters reported that OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation, moving away from control by its nonprofit board. The shift marks a dramatic change for the AI company behind ChatGPT,

OpenAI’s history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a for-profit corporation accountable to shareholders.

When a company transitions from purpose to profit, people and planet-oriented priorities tend to fall short. Does it have to be that way?

Enterprise partners and investors may reevaluate their relationship with the company as its priorities shift under the new structure.

ChatGPT-maker OpenAI will restructure into a for-profit benefit corporation that will no longer be controlled by its non-profit board.

OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business, people familiar with the matter said, a major shift that would mark the first time Altman is granted ownership in the artificial intelligence startup.

OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business

OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business, people familiar with the matter said, a major shift that would mark the first time Altman is granted ownership in the artificial intelligence startup.