One of OpenAI’s co-founders, billionaire Elon Musk, has filed for an injunction to halt the company’s transition to a for-profit, accusing OpenAI of abandoning its original philanthropic mission. Musk has also alleged that OpenAI has deprived his own AI company, xAI, of capital by extracting promises from investors not to fund it.

We have altered the deal, pray we don’t alter it any further Amid growing competition and skyrocketing compute requirements necessary to support the next generation of AI models, OpenAI is shaking up its corporate structure - again.

OpenAI on Friday laid out a plan to revamp its corporate structure next year, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its current non-profit parent.

Key Takeaways Artificial intelligence startup OpenAI said it needs to raise more capital than expected, and laid out plans for transitioning toward a for-profit structure next year. The ChatGPT maker said its existing for-profit division will become a corporation with ordinary shares of stock.

Microsoft (NASDAQ:MSFT)-backed OpenAI revealed plans to change company structure that would create a money-making corporation along with a nonprofit arm. The AI startup said its board is evaluating is corporate structure to support the mission of ensuring artificial general intelligence,