OpenAI allegedly plans to restructure as PBC

(Source: baha news)
EPA-EFE/JOHN G. MABANGLO

OpenAI, the company behind ChatGPT, is thinking of restructuring as a public benefit corporation (PBC) to shield itself from hostile takeovers and protect CEO Sam Altman from external interference, The Financial Times reported on Wednesday, citing sources familiar with the matter.

This untested model, which balances profit with public good, would give the company more flexibility to resist acquisitions from significant investors like Microsoft. "OpenAI wants to keep that societal license, with both a mission and a duty, while creating cutting-edge technology," one of these sources said.

The shift comes as OpenAI navigates rapid growth, securing $6.6 billion in funding and facing fierce competition. The new structure allows OpenAI to focus on its mission while pursuing commercial success.

Baha Breaking News (BBN) / JG

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