'OpenAI's For-Profit Plan Questioned By Delaware Attorney General' - Axios
Portfolio Pulse from Benzinga Newsdesk
The Delaware Attorney General has questioned OpenAI's plan to convert from a nonprofit to a for-profit entity, which could impact billions in investments. OpenAI, originally a nonprofit, has received significant investments from Microsoft and others, who are pushing for the conversion. The AG's involvement could complicate the process, but OpenAI is engaging in discussions to address concerns.
October 30, 2024 | 4:45 pm
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Microsoft, a major investor in OpenAI, could be affected by the Delaware AG's scrutiny of OpenAI's conversion to a for-profit entity. This could delay or complicate the investment returns Microsoft expects from OpenAI.
Microsoft has invested in OpenAI's for-profit subsidiary and expects returns from its conversion. The Delaware AG's involvement could delay or complicate this process, affecting Microsoft's investment strategy.
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