Sources: OpenAI's $150B valuation in a $6.5B funding round hinges on whether the company can upend its corporate structure and remove a profit cap for investors
OpenAI's new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter …
Reuters
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Discussion
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@kenrickcai
Kenrick Cai
on x
NEW: OpenAI's targeted $150B valuation hinges on pulling off a corporate restructure — namely removing the profit cap for investors. If unsuccessful, it'd need to renegotiate the price, sources say. More on the terms at play, with @readkrystalhu: https://www.reuters.com/...
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@readkrystalhu
Krystal Hu
on x
Scoop: OpenAI might be worth $150 billion, that is, if it can successfully *remove investors' profit cap*, a founding principle, sources told me & @kenrickcai. More details on their $6.5 bln raise in convertible notes👇which could be finalized in 2 weeks https://www.reuters.com/..…
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@crumbler
Casey Newton
on threads
Finally these guys can let loose!!!! — RE: https://www.threads.net/...
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@kalihays1
Kali Hays
on threads
Sam Altman told staff recently that OpenAI will, in fact, move away from its “unusual” corporate structure that makes it technically a “non-profit.” Although the company is adamant some kind of OAI non-profit will continue to exist, Altman said the change will happen sometime ne…
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r/ChatGPT
r
on reddit
OpenAI to abandon non-profit structure and become for-profit entity.
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r/singularity
r
on reddit
OpenAI to abandon non-profit structure and become for-profit entity.
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r/wallstreetbets
r
on reddit
Sam Altman told OpenAI staff the company's non-profit corporate structure will change next year
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r/OpenAI
r
on reddit
OpenAI to abandon non-profit structure and become for-profit entity.