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OpenAI CEO Sam Altman says company could become for-profit corporation: Report

One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, a report said, citing a person who heard the comments.
Last Updated : 15 June 2024, 07:12 IST

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OpenAI CEO Sam Altman told some shareholders that the company is considering changing its governance structure to a for-profit business that the firm's nonprofit board doesn't control, The Information reported on Friday.

One scenario Altman said the board is considering is a for-profit benefit corporation, which rivals such as Anthropic and xAI are using, the report said, citing a person who heard the comments.

The restructuring discussions are fluid and Altman and his fellow directors could ultimately decide to take a different approach, The Information added.

In response to Reuters' queries about the report, OpenAI said: "We remain focused on building AI that benefits everyone. The nonprofit is core to our mission and will continue to exist."

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Published 15 June 2024, 07:12 IST

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