Sources: OpenAI's restructuring, approved by California's AG, paves the way for an IPO as soon as 2027; Sam Altman says an IPO is likely but gave no timeframe
Company assured state officials that it would stay in California as it continues global expansion, which could include a public offering as soon as 2027
Wall Street Journal
Related Coverage
- Microsoft now holds a ~$135B investment in OpenAI Group PBC, or a ~27% stake, down from 32.5%; OpenAI commits to purchase an additional $250B in Azure services OpenAI
- OpenAI's chief Sam Altman gets a licence to play the field Financial Times
- Big Tech Faces Tough Questions Over the A.I. Spending Spree New York Times
- Altman commits $1.4T, GitHub unifies the chaos Implicator.ai · Marcus Schuler
- OpenAI's $500 billion restructuring clears California—barely Implicator.ai · Marcus Schuler
- California Is My Home': Sam Altman Says OpenAI Will Not Threaten To Leave Golden State If Sued: ‘I Love It Here’ Benzinga · Snigdha Gairola
- Sam Altman says OpenAI has committed to spend about $1.4T on infrastructure so far, equating to roughly 30GW of data center capacity Axios · Ina Fried
- OpenAI Restructures Into For-Profit Company, Retains Nonprofit Control eWeek · Aminu Abdullahi
- OpenAI completed its for-profit restructuring — and struck a new deal with Microsoft The Verge · Hayden Field
- OpenAI Successfully Sheds Its Roots as an Ethical Non-Profit Futurism · Frank Landymore
- OpenAI Restructures Into a For-Profit Company Digital Music News · Ashley King
- Advocacy groups jeer OpenAI restructuring San Francisco Examiner · Troy Wolverton
- OpenAI completes its restructuring Platformer · Casey Newton
- Bonta approves OpenAI restructuring, saying he got concessions dailyjournal.com
- OpenAI drops nonprofit status for $130 billion restructure Yahoo Finance · Jackie Snow
- A Timeline of the Battle for OpenAI: Musk, Altman, and the For-Profit Shift Time · Nikita Ostrovsky
- OpenAI adopts a new for-profit structure, with a public benefit corporation controlled by the nonprofit, which holds a 26% stake, worth ~$130B, in the company OpenAI · Bret Taylor
- Microsoft gets access to OpenAI tech through 2032, including models post-AGI but excluding consumer hardware; OpenAI can now develop products with third parties Bloomberg
- OpenAI now valued at $500 B, Microsoft holds 27% ($135B) and the non-profit holds $130B in the reorganized OpenAI Group PBC. — OpenAI can raise capital more freely, partner beyond Azure, and release open-weight models; Microsoft secures model rights until 2032 and a $250B Azure purchase commitment. … @carnage4life@mas.to · Dare Obasanjo
Discussion
-
@sama
Sam Altman
on x
California is my home, and I love it here, and when I talked to Attorney General Bonta two weeks ago I made clear that we were not going to do what those other companies do and threaten to leave if sued. We really wanted to figure this out and are really happy about where it all…
-
@nixCraft@mastodon.social
@nixCraft@mastodon.social
on mastodon
Sam Altman says an IPO is now the most likely path for OpenAI, given the scale of capital the company will need going forward (he wants at least $1 trillion). Ah, yes it seems that VCs and institutional/core investors like Microsoft want to exit from OpenAI and get retail invest…