this post was submitted on 05 May 2025
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OpenAI scuttles for-profit transformation (www.axios.com)
submitted 1 week ago by [email protected] to c/[email protected]
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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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[–] [email protected] 4 points 6 days ago* (last edited 6 days ago)

Yeah, SoftBank is dropping from 30 billion to 20 billion. But there are some huge doubts whether SoftBank could have even raised the 20, so I'm secretly thinking this "sudden choice" has more to do with the fact that SoftBank has issued raising the money.

Another 10 billion is from a "Syndicate" of other investors and it also hinges on a for-profit status.

But it's important to note that the 20 billion they're not getting would have arrived at the end of the year earliest.