OpenAI will restructure as for-profit company-report

OpenAI is reportedly pushing ahead with plans to become a for-profit company, after more senior figures left the developer of ChatGPT in the wake of the surprise exit of its chief technology officer, Mira Murati.

- Dan Milmo

The San Francisco-based startup is preparing to change its corporate structure as it seeks $6.5bn (£4.8bn) in new funding, according to reports.

Under the changes, OpenAI will become a for-profit benefit corporation - an entity that makes profits but is committed to the social and public good - and will no longer be controlled by its nonprofit board, Reuters reported.

OpenAI declined to elaborate on the reports, but a spokesperson said the nonprofit entity would continue to exist. "We remain focused on building AI that benefits everyone, and we're working with our board to ensure that we're best positioned to succeed in our mission. The nonprofit is core to our mission and will continue to exist," they said.

The nonprofit entity, and Sam Altman, OpenAI's chief executive, will hold a stake in the for-profit business, Reuters reported.

Altman said yesterday that the departure of Murati and two other senior colleagues was not linked to the restructuring. "That's totally not true," he said.