After Years of Chasing Money, OpenAI Reportedly Giving Up on Being a “Nonprofit”

Quick Summary:

  ChatGPT maker OpenAI was founded in 2015 as a non-profit, only to change its mind four years later, announcing that it was now a "capped-profit" company.

One option is to remove existing caps on profits for investors, which would be a nail in the coffin for its nonprofit past.

The company is reportedly in talks to raise further new funds, giving it a valuation of north of $100 billion and potentially making it one of the most valuable Silicon Valley firms ever.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Victor Tangermann

Category: Technology

Markets: United States

Topics: Become Reporting Giving Years Musk Abandoned Nonprofit Company Mission Openai

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-03 @ 22:25:41 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: futurism.com

Language: English

Article Length: 396 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Futurism

News ID: 22356952

View Article Analysis

About Futurism

Main Topics: Technology

Official Website: futurism.com

Update Frequency: 11 posts per day

Year Established: 1997

Headquarters: United States

News Last Updated: 13 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #68

Publisher Details

Frequently Asked Questions