On September 15, it became increasingly likely that OpenAI would soon change its complex corporate structure. Earlier this week, reports emerged that the company was in talks to raise $6.5 billion at a pre-money valuation of $150 billion.
Now, according to Reuters, the deal depends on whether OpenAI can restructure and remove profit caps for investors. And according to Fortune, co-founder and CEO Sam Altman told employees at a company-wide meeting that OpenAI's structure is likely to change next year to make it closer to a traditional for-profit business.
OpenAI’s current structure, in which its for-profit arm is controlled by a nonprofit, appears to have frustrated investors.
