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		<title>Nonprofit was &#8216;left for dead&#8217;</title>
		<link>https://financenews.one/2026/05/13/nonprofit-was-left-for-dead/</link>
		
		<dc:creator><![CDATA[Finance News]]></dc:creator>
		<pubDate>Wed, 13 May 2026 17:01:46 +0000</pubDate>
				<category><![CDATA[Politics]]></category>
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					<description><![CDATA[<div style="margin-bottom:20px;"><img width="1920" height="1080" src="https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" fetchpriority="high" srcset="https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court.jpeg 1920w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-300x169.jpeg 300w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-1024x576.jpeg 1024w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-768x432.jpeg 768w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-1536x864.jpeg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /></div>A combination photo shows CEO of OpenAI Sam Altman (L) on April 28, 2026 and Elon Musk on April 29, 2026 during the trial in Elon Musk&#8217;s lawsuit over OpenAI for-profit conversion at a federal courthouse in Oakland, California, U.S. Manuel Orbegozo &#124; Reuters OpenAI CEO Sam Altman testified in the Musk v. Altman trial [&#8230;]]]></description>
										<content:encoded><![CDATA[<div style="margin-bottom:20px;"><img width="1920" height="1080" src="https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court.jpeg 1920w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-300x169.jpeg 300w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-1024x576.jpeg 1024w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-768x432.jpeg 768w, https://financenews.one/wp-content/uploads/2026/05/108299329-17774844982026-04-29t174052z_1503926160_rc21zka40miz_rtrmadp_0_musk-openai-court-1536x864.jpeg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /></div><p> <br />
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<p>A combination photo shows CEO of OpenAI Sam Altman (L) on April 28, 2026 and Elon Musk on April 29, 2026 during the trial in Elon Musk&#8217;s lawsuit over OpenAI for-profit conversion at a federal courthouse in Oakland, California, U.S.</p>
<p>Manuel Orbegozo | Reuters</p>
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<p><a rel="nofollow" href="https://www.cnbc.com/2026/05/11/open-ai-dresser-enterprise-business.html">OpenAI</a> CEO <a rel="nofollow" href="https://www.cnbc.com/sam-altman/">Sam Altman</a> testified in the <a rel="nofollow" href="https://www.cnbc.com/2026/05/12/openai-trial-updates-sam-altman-set-to-testify-in-musk-suit.html">Musk v. Altman trial</a> on Tuesday, where he tried to make his central claim clear to the jury: He didn&#8217;t <a rel="nofollow" href="https://www.cnbc.com/2026/05/02/musk-testimony-dominated-first-week-musk-v-altman-trial-in-oakland.html">steal a charity</a>, but <a rel="nofollow" href="https://www.cnbc.com/elon-musk/">Elon Musk</a> abandoned one. </p>
<p>Altman, wearing a blue suit and tie, spoke from the witness stand in federal court in Oakland, California over the course of about four hours. He said that <a rel="nofollow" href="https://www.cnbc.com/2026/05/04/musk-altman-open-ai-settlement-trial-brockman.html">Musk</a>, who co-founded OpenAI alongside him in 2015, did not keep his promises and eventually deserted the young startup as it was trying to chart out an uncertain future. </p>
<p>&#8220;We were kind of left for dead,&#8221; Altman testified. </p>
<p><a rel="nofollow" href="https://www.cnbc.com/2026/04/24/musk-v-altman-trial-openai-lawsuit-xai.html">Musk sued OpenAI</a>, Altman and the company&#8217;s president, <a rel="nofollow" href="https://www.cnbc.com/2026/05/05/open-ai-altman-musk-trial-brockman-testimony.html">Greg Brockman</a>, in 2024, alleging they went back on their vow to keep the artificial intelligence company a nonprofit and follow its charitable mission. He argued that the roughly $38 million he donated to OpenAI was used for unauthorized commercial purposes.</p>
<p>Altman testified on Tuesday that he did not make any commitments to Musk about OpenAI&#8217;s corporate structure.</p>
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<h2 class="ArticleBody-subtitle"><a rel="nofollow" id="headline0"/>Tense negotiations between co-founders</h2>
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<p>OpenAI Chief Executive Sam Altman is cross-examined by Elon Musk&#8217;s lawyer Steve Molo during Musk&#8217;s lawsuit trial over OpenAI&#8217;s for-profit conversion at a federal courthouse in Oakland, California, U.S., May 12, 2026, in a courtroom sketch. </p>
<p>Vicki Behringer | Reuters</p>
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<p>Much of the trial, which <a rel="nofollow" href="https://www.cnbc.com/2026/04/27/musk-altman-trial-openai-jury-selection.html">kicked off late last month</a>, has centered around a series of contentious negotiations that took place between Musk, Altman, Brockman and Ilya Sutskever, another OpenAI co-founder, in 2017 and 2018. </p>
<p>The executives agreed they needed to raise more money for computing resources, and they debated a range of potential corporate structures, including for-profit options, that could help them do so. </p>
<p>The talks ultimately collapsed without a clear resolution, and Musk left OpenAI&#8217;s board in February of 2018.</p>
<p>Altman testified that Musk&#8217;s departure caused OpenAI employees to worry about how the company would be funded, and that some were concerned Musk would seek &#8220;vengeance.&#8221; But Altman said Musk&#8217;s exit was also a &#8220;morale boost&#8221; for some researchers, who had been &#8220;demotivated&#8221; by his management tactics.</p>
<p>&#8220;I don&#8217;t think Mr. Musk understood how to run a good research lab,&#8221; Altman said. </p>
<p>Musk continued communicating with Altman, Brockman and Sutskever in 2018, months after he formally left the startup&#8217;s board. He said the company had no chance of succeeding.  </p>
<p>&#8220;My probability assessment of OpenAI being relevant to DeepMind/Google without a dramatic change in execution and resources is 0%. Not 1%. I wish it were otherwise,&#8221; Musk wrote in <a rel="nofollow" href="https://openai.com/index/elon-musk-wanted-an-openai-for-profit/#december-2018-elon-told-us-to-raise-billions-per-year-immediately-or-forget-it" target="_blank">an email</a> that December. &#8220;Even raising several hundred million won&#8217;t be enough. This needs billions per year immediately or forget it.&#8221;</p>
<p>Altman said Tuesday that Musk&#8217;s comment was&#8230;</p>
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<p><br />
<br />Read More: <a href="https://www.cnbc.com/2026/05/13/altman-musk-trial-testimony-takeaways.html">Nonprofit was &#8216;left for dead&#8217;</a></p>
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		<title>OpenAI began decade ago as nonprofit lab. Musk and Altman now rivals</title>
		<link>https://financenews.one/2025/12/11/openai-began-decade-ago-as-nonprofit-lab-musk-and-altman-now-rivals/</link>
		
		<dc:creator><![CDATA[Finance News]]></dc:creator>
		<pubDate>Fri, 12 Dec 2025 03:17:15 +0000</pubDate>
				<category><![CDATA[Politics]]></category>
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		<category><![CDATA[rivals]]></category>
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					<description><![CDATA[<div style="margin-bottom:20px;"><img width="1920" height="1080" src="https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn.jpeg 1920w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-300x169.jpeg 300w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-1024x576.jpeg 1024w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-768x432.jpeg 768w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-1536x864.jpeg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /></div>Open AI CEO Sam Altman speaks during a talk session with SoftBank Group CEO Masayoshi Son at an event titled &#8220;Transforming Business through AI&#8221; in Tokyo, Japan, on February 03, 2025. Tomohiro Ohsumi &#124; Getty Images On Dec. 11, 2015, OpenAI launched as a nonprofit research lab after Elon Musk and a group of prominent [&#8230;]]]></description>
										<content:encoded><![CDATA[<div style="margin-bottom:20px;"><img width="1920" height="1080" src="https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn.jpeg 1920w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-300x169.jpeg 300w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-1024x576.jpeg 1024w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-768x432.jpeg 768w, https://financenews.one/wp-content/uploads/2025/12/108236135-1764788503612-gettyimages-2197366908-dsc00472_mof5bjgn-1536x864.jpeg 1536w" sizes="auto, (max-width: 1920px) 100vw, 1920px" /></div><p> <br />
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<p>Open AI CEO Sam Altman speaks during a talk session with SoftBank Group CEO Masayoshi Son at  an event titled &#8220;Transforming Business through AI&#8221; in Tokyo, Japan, on February 03, 2025. </p>
<p>Tomohiro Ohsumi | Getty Images</p>
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<p>On Dec. 11, 2015, OpenAI launched as a nonprofit research lab after <a rel="nofollow" href="https://www.cnbc.com/elon-musk/">Elon Musk</a> and a group of prominent techies, including Peter Thiel and Reid Hoffman, pledged $1 billion to develop artificial intelligence for the benefit of humanity. The idea was for the project to be be free of commercial pressures and the pursuit of money. </p>
<p>A decade later, that founding mission is all but forgotten. </p>
<p>Musk, now the world&#8217;s richest person, is long gone, having created rival startup xAI. And he&#8217;s been engaged in a heated legal and public relations fight with OpenAI CEO and co-founder <a rel="nofollow" href="https://www.cnbc.com/sam-altman/">Sam Altman</a>. </p>
<p>Far from the nonprofit realm, OpenAI has emerged as one of the fastest-growing commercial entities on the planet, zooming to a $500 billion private market valuation, with almost all of that value accruing since the company&#8217;s launch of ChatGPT three years ago. More than 800 million people now use the chatbot every week. </p>
<p>Musk&#8217;s xAI, meanwhile, is expected to close a $15 billion round at a $230 billion pre-money valuation this month, sources familiar with the matter <a rel="nofollow" href="https://www.cnbc.com/2025/11/25/musk-xai-funding-december.html">told CNBC&#8217;s David Faber</a> in late November.</p>
<p>OpenAI and xAI are two of the main companies, along with <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-4"><a rel="nofollow" href="https://www.cnbc.com/quotes/GOOGL/">Google</a><span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><button class="AddToWatchlistButton-watchlistButton" aria-label="Add To Watchlist" data-testid="dropdown-btn"><span class="AddToWatchlistButton-addWatchListFromTag"/></button></span></span></span>, Anthropic and <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-5"><a rel="nofollow" href="https://www.cnbc.com/quotes/META/">Meta</a><span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><button class="AddToWatchlistButton-watchlistButton" aria-label="Add To Watchlist" data-testid="dropdown-btn"><span class="AddToWatchlistButton-addWatchListFromTag"/></button></span></span></span>, pouring money into AI models, as the market rapidly evolves from text-based chatbots to AI-generated videos and more advanced compute-intensive forms of content, as well as into agentic AI, with large enterprises customizing tools to enhance productivity. </p>
<p>For OpenAI, the price tag is almost incomprehensible: <a rel="nofollow" href="https://www.cnbc.com/2025/10/15/a-guide-to-1-trillion-worth-of-ai-deals-between-openai-nvidia.html">$1.4 trillion</a> and growing. That&#8217;s primarily for the mammoth data centers and high-powered chips required to meet what the company sees as insatiable demand for its technology.<strong> </strong>For now, OpenAI is a cash-burning machine going up against tech&#8217;s megacaps and their chip suppliers, drawing comparisons to earlier waves of high-growth tech firms that spent heavily for years to challenge behemoth incumbents, but to mixed results.</p>
<p>&#8220;OpenAI has a very big role in the in the history of the development of artificial intelligence, and will forever have that role,&#8221; said Gil Luria, an equity analyst at D.A. Davidson, in an interview. &#8220;Now, will that role be Netscape, or will it be Google? We&#8217;ve yet to find out.&#8221; </p>
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<p>Nvidia CEO Jensen Huang speaks at an event ahead of the COMPUTEX forum, in Taipei, Taiwan, June 2, 2024.</p>
<p>Ann Wang | Reuters</p>
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<p>It&#8217;s a position that would&#8217;ve been hard to imagine in 2016, when <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-7"><a rel="nofollow" href="https://www.cnbc.com/quotes/NVDA/">Nvidia</a><span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><button class="AddToWatchlistButton-watchlistButton" aria-label="Add To Watchlist" data-testid="dropdown-btn"><span class="AddToWatchlistButton-addWatchListFromTag"/></button></span></span></span> CEO Jensen Huang hauled a black DGX-1 supercomputer up to OpenAI&#8217;s offices in San Francisco&#8217;s Mission District. The $300,000 machine had cost Nvidia &#8220;a few billion dollars&#8221; to develop, and there were no other buyers, Huang recalled recently on Joe Rogan&#8217;s podcast.  </p>
<p>Musk, at OpenAI, was the only one who wanted it.</p>
<p>When Musk told him it was for &#8220;a nonprofit company,&#8221; Huang said all the blood&#8230;</p>
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<p><br />
<br />Read More: <a href="https://www.cnbc.com/2025/12/11/openai-began-decade-ago-as-nonprofit-lab-musk-and-altman-now-rivals.html">OpenAI began decade ago as nonprofit lab. Musk and Altman now rivals</a></p>
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		<title>Non-profit run by 23andMe co-founder gets court approval to buy the genetic</title>
		<link>https://financenews.one/2025/07/02/non-profit-run-by-23andme-co-founder-gets-court-approval-to-buy-the-genetic/</link>
		
		<dc:creator><![CDATA[Finance News]]></dc:creator>
		<pubDate>Wed, 02 Jul 2025 08:47:12 +0000</pubDate>
				<category><![CDATA[Markets]]></category>
		<category><![CDATA[23andMe]]></category>
		<category><![CDATA[approval]]></category>
		<category><![CDATA[buy]]></category>
		<category><![CDATA[cofounder]]></category>
		<category><![CDATA[Court]]></category>
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		<guid isPermaLink="false">https://financenews.one/2025/07/02/non-profit-run-by-23andme-co-founder-gets-court-approval-to-buy-the-genetic/</guid>

					<description><![CDATA[<div style="margin-bottom:20px;"><img width="620" height="349" src="https://financenews.one/wp-content/uploads/2025/07/23andme.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://financenews.one/wp-content/uploads/2025/07/23andme.jpg 620w, https://financenews.one/wp-content/uploads/2025/07/23andme-300x169.jpg 300w" sizes="auto, (max-width: 620px) 100vw, 620px" /></div>Anne Wojcicki&#8217;s bid to buy 23andMe, the genetic testing company she co-founded nearly 20 years ago, has received the court green light. That means Wojcicki&#8217;s non-profit TTAM Research Institute will purchase &#8220;substantially all&#8221; of San Francisco-based 23andMe&#8217;s assets for $305 million US (about $416 million Cdn). The transaction — which arrives more than three months after [&#8230;]]]></description>
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<p>Anne Wojcicki&#8217;s bid to buy 23andMe, the genetic testing company she co-founded nearly 20 years ago, has received the court green light.</p>
<p>That means Wojcicki&#8217;s non-profit TTAM Research Institute will purchase &#8220;substantially all&#8221; of San Francisco-based 23andMe&#8217;s assets for $305 million US (about $416 million Cdn). The transaction — which arrives more than three months after 23andMe filed for Chapter 11 bankruptcy — is set to officially close in the coming weeks.</p>
<p>&#8220;I am thrilled that TTAM will be able to build on the mission of 23andMe to help people access, understand and benefit from the human genome,&#8221; Wojcicki said in a statement Monday. She later added that, &#8220;the future of health care belongs to all of us.&#8221;</p>
<p>The sale, which was approved by U.S. Bankruptcy Judge Brian C. Walsh on Friday, marks the end of a months-long bidding war between TTAM and Regeneron Pharmaceuticals — a biotech company that had previously agreed to buy most of 23andMe&#8217;s assets for $256 million US in May. But Wojcicki&#8217;s non-profit later topped that offer, winning the final round of bidding held last month.</p>
<p>Under the deal, TTAM will acquire 23andMe&#8217;s signature &#8220;Personal Genome Service&#8221; provided through the company&#8217;s saliva-based DNA testing kits — as well as research operations and its Lemonaid Health subsidiary, a telehealth services provider that 23andMe previously planned to wind down.</p>
<p>Wojcicki had worked to take 23andMe private for some time. With the company struggling to find a profitable business model since going public in 2021, she&#8217;s maintained that it would operate better outside market pressures. But that endeavour proved to be tumultuous — notably in September of last year, when all of 23andMe&#8217;s independent directors resigned from its board citing a &#8220;clear&#8221; difference of opinion with Wojcicki on the company&#8217;s future following drawn-out negotiations.</p>
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<div class="placeholder"><img decoding="async" loading="lazy" alt="A woman with long graying hair sits in front of a microphone and peers to one side." srcset="https://i.cbc.ca/1.7561203.1749852580!/fileImage/httpImage/image.jpg_gen/derivatives/original_1180/2218937083-23andme-anne-wojcicki.jpg?im=Resize%3D300 300w,https://i.cbc.ca/1.7561203.1749852580!/fileImage/httpImage/image.jpg_gen/derivatives/original_1180/2218937083-23andme-anne-wojcicki.jpg?im=Resize%3D460 460w,https://i.cbc.ca/1.7561203.1749852580!/fileImage/httpImage/image.jpg_gen/derivatives/original_1180/2218937083-23andme-anne-wojcicki.jpg?im=Resize%3D620 620w,https://i.cbc.ca/1.7561203.1749852580!/fileImage/httpImage/image.jpg_gen/derivatives/original_1180/2218937083-23andme-anne-wojcicki.jpg?im=Resize%3D780 780w,https://i.cbc.ca/1.7561203.1749852580!/fileImage/httpImage/image.jpg_gen/derivatives/original_1180/2218937083-23andme-anne-wojcicki.jpg?im=Resize%3D1180 1180w" sizes="(max-width: 300px) 300px,(max-width: 460px) 460px,(max-width: 620px) 620px,(max-width: 780px) 780px,(max-width: 1180px) 1180px" src="https://i.cbc.ca/1.7561203.1749852580!/fileImage/httpImage/image.jpg_gen/derivatives/original_1180/2218937083-23andme-anne-wojcicki.jpg?im=" style="aspect-ratio:1.4993646759847523" data-cy="image-img"/></div><figcaption class="image-caption">23andMe founder Anne Wojcicki testifies during a House Oversight Committee hearing on privacy concerns surrounding 23andMe&#8217;s bankruptcy sale and protection of Americans&#8217; private genetic data, on Capitol Hill on June 10, in Washington, D.C. <!-- --> <!-- -->(Ting Shen/AFP/Getty Images)</figcaption></figure>
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<p>Leading up to 23andMe&#8217;s March bankruptcy filing, subsequent efforts from Wojcicki to acquire the company were unsuccessful. And when 23andMe filed for Chapter 11 in late March, Wojcicki resigned as CEO — noting at the time that she was stepping down to be &#8220;in the best position&#8221; as an independent bidder.</p>
<p>Now that Wojcicki&#8217;s non-profit will acquire 23andMe, it&#8217;s unclear whether the co-founder will step back into the CEO seat. But despite stepping down from the top post months ago, Wojcicki has remained on the company&#8217;s board throughout the bankruptcy process.</p>
<p>Beyond financial strains leading up to 23andMe&#8217;s bankruptcy, privacy concerns related to customers&#8217; genetic information also emerged — dating back to even before the bankruptcy process, notably with a 2023 data breach. But concern what new ownership could mean for 23andMe users&#8217; personal&#8230;</p>
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<br />Read More: <a href="https://www.cbc.ca/news/business/23andme-court-approval-1.7574842?cmp=rss">Non-profit run by 23andMe co-founder gets court approval to buy the genetic</a></p>
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		<title>OpenAI says nonprofit will stay in control of business</title>
		<link>https://financenews.one/2025/05/10/openai-says-nonprofit-will-stay-in-control-of-business/</link>
		
		<dc:creator><![CDATA[Finance News]]></dc:creator>
		<pubDate>Sat, 10 May 2025 18:23:25 +0000</pubDate>
				<category><![CDATA[Banks]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[control]]></category>
		<category><![CDATA[nonprofit]]></category>
		<category><![CDATA[OpenAI]]></category>
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		<guid isPermaLink="false">https://financenews.one/2025/05/10/openai-says-nonprofit-will-stay-in-control-of-business/</guid>

					<description><![CDATA[<div style="margin-bottom:20px;"><img width="1280" height="720" src="https://financenews.one/wp-content/uploads/2025/05/sam-altman-openai.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://financenews.one/wp-content/uploads/2025/05/sam-altman-openai.jpg 1280w, https://financenews.one/wp-content/uploads/2025/05/sam-altman-openai-300x169.jpg 300w, https://financenews.one/wp-content/uploads/2025/05/sam-altman-openai-1024x576.jpg 1024w, https://financenews.one/wp-content/uploads/2025/05/sam-altman-openai-768x432.jpg 768w" sizes="auto, (max-width: 1280px) 100vw, 1280px" /></div>OpenAI CFO Sarah Friar discusses the company&#8217;s partnership with SoftBank, consumers embracing artificial intelligence, OpenAI&#8217;s &#8216;deep research&#8217; tool and DeepSeek&#8217;s impact in the space. OpenAI announced on Monday that the artificial intelligence (AI) giant is scuttling its plan to move the company away from a nonprofit structure to becoming a for-profit company. The ChatGPT-maker created [&#8230;]]]></description>
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<p>OpenAI CFO Sarah Friar discusses the company&#8217;s partnership with SoftBank, consumers embracing artificial intelligence, OpenAI&#8217;s &#8216;deep research&#8217; tool and DeepSeek&#8217;s impact in the space.</p>
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<p>OpenAI announced on Monday that the <a rel="nofollow" href="https://www.foxbusiness.com/category/artificial-intelligence" target="_blank" rel="noopener">artificial intelligence</a> (AI) giant is scuttling its plan to move the company away from a nonprofit structure to becoming a for-profit company.</p>
<p>The <a rel="nofollow" href="https://www.foxbusiness.com/category/chatgpt" target="_blank" rel="noopener">ChatGPT-maker</a> created a for-profit limited liability company (LLC), which it will now convert into a public benefit corporation that considers the interests of shareholders as well as OpenAI&#8217;s mission. OpenAI&#8217;s nonprofit will have operational control over the public benefit corporation and will be a large shareholder in it.</p>
<p>&#8220;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,&#8221; OpenAI Chairman Bret Taylor said in a statement.</p>
<p><a rel="nofollow" href="https://www.foxbusiness.com/media/openai-shakes-up-corporate-structure-goal-scaling-agi-investment" target="_blank" rel="noopener"><strong>OPENAI SHAKES UP CORPORATE STRUCTURE WITH GOAL OF SCALING UP AGI INVESTMENT</strong></a></p>
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<div class="m"><picture><source media="(max-width: 767px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/343/192/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/686/384/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1 2x"><source media="(min-width: 768px) and (max-width: 1023px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/672/378/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/1344/756/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1 2x"><source media="(min-width: 1024px) and (max-width: 1279px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/931/523/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/1862/1046/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1 2x"><source media="(min-width: 1280px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/720/405/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/1440/810/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1 2x"><img decoding="async" src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/05/931/523/GettyImages-1778704898-scaled.jpg?ve=1&#038;tl=1" alt="Sam Altman with his hand up"/></source></source></source></source></picture></div>
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<p><span>OpenAI CEO Sam Altman speaks during the OpenAI DevDay event on Nov. 6, 2023, in San Francisco, California.</span><span> (Photo by Justin Sullivan/Getty Images / Getty Images)</span></p>
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<p>&#8220;We thank both offices and we look forward to continuing these important conversations to make sure <a rel="nofollow" href="https://www.foxbusiness.com/category/tech" target="_blank" rel="noopener">OpenAI can continue</a> to effectively pursue its mission of ensuring AGI benefits all of humanity.&#8221;</p>
<p>OpenAI CEO <a rel="nofollow" href="https://www.foxbusiness.com/business-leaders" target="_blank" rel="noopener">Sam Altman</a>, who prompted the company&#8217;s exploration of moving to a for-profit structure to make it easier for the company to raise the large amounts of money for investments he thinks will be needed to achieve artificial general intelligence (AGI), sent a letter to employees explaining the decision and what it means for the company.</p>
<p>&#8220;OpenAI was founded as a nonprofit, is today a nonprofit that oversees and controls the for-profit, and going forward will remain a nonprofit that oversees and controls the for-profit. That will not change,&#8221; Altman wrote.</p>
<p><a rel="nofollow" href="https://www.foxbusiness.com/technology/ai-help-lower-prices-could-used-authoritarian-governments-openai-ceo-sam-altman-says" target="_blank" rel="noopener"><strong><u>AI WILL HELP LOWER PRICES, BUT COULD BE USED BY AUTHORITARIAN GOVERNMENTS, OPENAI CEO SAM ALTMAN SAYS</u></strong></a></p>
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<div class="m"><picture><source media="(max-width: 767px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/343/192/sam-altman-openai.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/686/384/sam-altman-openai.jpg?ve=1&#038;tl=1 2x"><source media="(min-width: 768px) and (max-width: 1023px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/672/378/sam-altman-openai.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/1344/756/sam-altman-openai.jpg?ve=1&#038;tl=1 2x"><source media="(min-width: 1024px) and (max-width: 1279px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/931/523/sam-altman-openai.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/1862/1046/sam-altman-openai.jpg?ve=1&#038;tl=1 2x"><source media="(min-width: 1280px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/720/405/sam-altman-openai.jpg?ve=1&#038;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/1440/810/sam-altman-openai.jpg?ve=1&#038;tl=1 2x"><img decoding="async" src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/02/931/523/sam-altman-openai.jpg?ve=1&#038;tl=1" alt="OpenAI CEO Sam Altman speaks in Japan"/></source></source></source></source></picture></div>
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<p><span>Open AI CEO Sam Altman speaks during a talk session with SoftBank Group CEO Masayoshi Son at an event titled &#8220;Transforming Business through AI&#8221; in Tokyo, Japan, on Feb. 3.</span><span> (Tomohiro Ohsumi/Getty Images / Getty Images)</span></p>
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<p>He added that public benefit corporations, which will be the new structure for <a rel="nofollow" href="https://www.foxbusiness.com/category/fox-news-finance" target="_blank" rel="noopener">OpenAI&#8217;s for-profit entity</a>, have &#8220;become the standard for-profit structure for other AGI labs like Anthropic and X.ai, as well as many purpose-driven companies like Patagonia. We think it makes sense for us, too.&#8221;</p>
<p>&#8220;Instead of our current complex capped-profit structure – which made sense when it looked like there might be one dominant AGI effort but doesn&#8217;t in a world of many great AGI companies – we are moving to a normal capital structure where everyone has stock. This is not a sale, but a change of structure to something simpler,&#8221; Altman wrote.</p>
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<p>The OpenAI&#8230;</p>
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<br />Read More: <a href="https://www.foxbusiness.com/markets/openai-backs-off-push-become-for-profit-company">OpenAI says nonprofit will stay in control of business</a></p>
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