Tag: OpenAI valuation

OpenAI scraps plan to restructure into for-profit company

OpenAI scraps plan to restructure into for-profit company

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OpenAI has scrapped its controversial plan to become a for-profit company after mounting pressure from critics. CEO Sam Altman said OpenAI would remain under the control of its founding nonprofit board. “We made the decision for the nonprofit to stay in control after hearing from civic leaders and having discussions with the offices of the […]

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OpenAI to raise billion to boost AI efforts

OpenAI to raise $40 billion to boost AI efforts

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OpenAI said on Monday it would raise $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools. SoftBank would provide 75% of the funding, according to a person familiar with the matter, with the remainder coming from Microsoft, […]

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