OpenAI, originally a not-for-profit firm, is planning to restructure itself into a for-profit corporation, with current CEO Sam Altman poised to get $150 billion in equity, reports revealed on Thursday.
The OpenAI non-profit will own a minority stake in the for-profit company, reported Reuters, citing sources familiar with the development.
"We remain focused on building AI that benefits everyone, and we’re working with our board to ensure that we're best positioned to succeed in our mission. The non-profit is core to our mission and will continue to exist," an OpenAI spokesperson told the UK news agency.
The restructuring comes close on the heels of the departure of the company's Chief Technology Officer Mira Murati, who on Wednesday announced she would be leaving OpenAI to do her own exploration.
Murati's resignation also came not so long after former OpenAI chief scientist Ilya Sutskever left the company amid speculations of a rift between him and Altman.
Greg Brockman, OpenAI's president, has also been on leave.
X owner and an early investor in OpenAI Elon Musk termed the development "deeply wrong," and said it is not legal to change the governance structure to for-profit for something that started as a non-profit.
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