The Wall Street Journal

OpenAI abandons planned for-profit conversion

OpenAI abandons planned for-profit conversion
OpenAI CEO Sam Altman. (Image: WSJ)
The Wall Street Journal
By Keach HageyOpenAI abandoned a controversial effort to place its juggernaut artificial-intelligence (AI) business under control of a for-profit entity and will instead remain under its founding nonprofit board.The move could complicate the company’s future fundraising efforts. Unlike traditional boards, which must act in the best interest of shareholders, OpenAI’s nonprofit board has a fiduciary duty “to humanity.”OpenAI started work on a change to its business structure after CEO Sam Altman’s surprise firin...

More Technology

Datacom achieves profit increase
News in Brief

Datacom achieves profit increase

The firm finished the financial year with 5375 staff - 12% down on last year.

Cleantech: Burst bubble or our biggest opportunity?
Opinion

Peter Griffin: Cleantech: Burst bubble or our biggest opportunity?

A thriving cleantech sector could be NZ’s ticket to a sustainable, high-value economy.

Xero’s Melio ‘leap of faith’
Markets Analysis

Xero’s Melio ‘leap of faith’

The NZ-founded company’s giant-killer dreams in the US hinge on this huge bet. 

Pattrick Smellie 01 Jul 2025
ACC-backed Basis launches world first smart panel
Technology

ACC-backed Basis launches world first smart panel

Forget fomo, this smart device combats folo. 

Greg Hurrell 01 Jul 2025