this post was submitted on 05 May 2025
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OpenAI scuttles for-profit transformation (www.axios.com)
submitted 2 months ago by Architeuthis@awful.systems to c/techtakes@awful.systems
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Kind of sounds like ultimately it would have been very illegal to do.

"We made the decision for the nonprofit to retain control of OpenAI after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California," OpenAI board chairman Bret Taylor said in a statement.

Asked about Musk's suit on a call with reporters, Altman said, "You all are obsessed with Elon, that's your job — like, more power to you. But we are here to think about our mission and figure out how to enable that. And that mission has not changed."

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[–] o7___o7@awful.systems 15 points 2 months ago* (last edited 2 months ago) (3 children)

This kills the OpenAI doesn't it? Im out at town at the moment so i cant easily check, I seem to recall that a large part of their existing investment rounds convert to debt if they can't reorganize.

[–] Mortoc@lemmy.world 15 points 2 months ago

It’s ok, I’m sure their burn rate isn’t catastrophic, they’ll be fine.

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