OpenAI tries to disentangle itself from the 'not-for-profit' to raise new investments

There is one too many 'not-for-profits' between OpenAI and a new investment round that would make the former San Francisco start-up a company worth more than $100 billion. And that is whythe Sam Altman-led company, according to the Financial Times, which cites sources close to the company, is considering a change to its structure to make it more attractive to investors' funds.

The assessments of the company's complex top management structure took place, according to the British newspaper's sources, while OpenAI was in talks to raise new capital for a valuation that - as mentioned - would break the $100 billion barrier, in a round that is expected to be led by venture capital firm Thrive Capital. And which could have the backing of two giants such as Apple and Nvidia, both of which are in talks to participate in the round.

OpenAI has quite an intricate corporate structure. The company started out as a non-profit, but in 2019 a second structure was created (OpenAI Limited Profit to raise more investment). Currently, investors are allocated shares issued by the company's for-profit subsidiary, which is governed by its non-profit board. A situation that has probably become a ballast for the new Silicon Valley jewel.

It is worth remembering that, originally, OpenAI was born non-profit and with a fairly clear motto: 'The main beneficiary of the board is humanity, not OpenAI's investors'. A situation that has changed over the years, and with the attention catalysed by the Altman-led company's products. At least in fact.

A few weeks ago, OpenAI was sued by its co-founder, Elon Musk, who disputes the betrayal of the mission after the deal with Microsoft.