Despite being one of the most valuable companies in the world, OpenAI is still technically a nonprofit. That’s what set the stage for the dramatic board coup in 2023 that briefly ousted Sam Altman as CEO. And now, OpenAI is trying to shake this nonprofit structure so it can raise even more money and, eventually, go public. There’s a lot at stake here, and not just for OpenAI.

Links:

OpenAI abandons plans to become a for-profit company | Verge
Why California’s AG must continue investigation into OpenAI | CalMatters
An open letter to OpenAI | EyesOnOpenAI
OpenAI eyes $50B valuation in potential employee share sale | Reuters
OpenAI thinks its critics are funded by billionaires | San Francisco Standard

Credits:

Decoder is a production of The Verge and part of the Vox Media Podcast Network.

Our producers are Kate Cox and Nick Statt. Our editor is Ursa Wright.

The Decoder music is by Breakmaster Cylinder.

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