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cailian press reported on september 26 (editor xia junxiong) according to media reports citing sources, artificial intelligence (ai) research company openai is developing a plan to reorganize its core business into a for-profit welfare company, no longer under the control of a non-profit board of directors, which will make the company more attractive to investors. in addition, openai ceo altman will receive equity in the company.

earlier media reports said that openai is negotiating a new round of financing, planning to raise more than us$5 billion at a valuation of us$150 billion, attracting venture capital firms such as thrive capital, and the three major technology giants microsoft, apple and nvidia are also interested in following suit.

at the time, it was also reported that the key to openai's $150 billion valuation was whether it could remove the profit cap on investors. the so-called profit cap means that there is a cap on investors' investment returns, and any additional returns will go to non-profit organizations.

openai was founded in 2015 as a nonprofit organization, and the company formed a for-profit subsidiary called openai lp in 2019. openai currently offers shares to investors through its for-profit subsidiary, which is governed by its nonprofit board of directors.

the latest news says that openai is still discussing the restructuring plan with lawyers and shareholders, and the timetable for completing the restructuring is uncertain.

sources revealed that after the reorganization is completed, openai will continue to exist as a non-profit organization and hold a minority stake in the newly established for-profit welfare company.

openai’s new structure will be similar to that of its competitors anthropic and musk’s xai. both anthropic and xai are registered as benefit corporations, a type of for-profit company that aims to promote social responsibility and sustainability in addition to making a profit.

the sources also said that after the restructuring is completed, the newly formed for-profit company may be worth $150 billion, and altman will also obtain equity for the first time.

it was not immediately clear how much equity altman, who has become a billionaire through investments in startups, will receive.

altman previously said he chose not to take a stake in openai because key board members cannot hold company shares. he also said he already had enough money and led openai because he liked the job.

this article is from xia junxiong of cailianshe