OpenAI abandons planned for-profit conversion

OpenAI CEO Sam Altman. (Image: WSJ)

Tue, 06 May 2025

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...

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