CEO Sam Altman will not get equity in new corporation
Sam Altman of OpenAI
Reuters
Microsoft and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500bn (€429bn) and giving it more freedom in its business operations.
The deal removes a major constraint on raising capital for OpenAI that has existed since 2019, when it signed a deal with Microsoft that gave the tech giant rights over much of OpenAI’s work in exchange for costly cloud computing services needed to carry it out.
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