OpenAI ditches plan to convert to for-profit business

OpenAI has decided to keep its non-profit arm in control, reversing its plans to transition to a for-profit model after facing significant opposition, including criticism from Elon Musk and a lawsuit from him. The company will convert its for-profit subsidiary into a public benefit corporation, allowing investors greater returns while ensuring the non-profit retains ultimate authority to uphold its mission of benefiting humanity. This decision follows discussions with civic leaders and negotiations with the attorneys-general of Delaware and California, ensuring commitments to charitable purposes are maintained during the restructuring.