From Yahoo Finance: 2025-05-05 14:02:00

OpenAI has decided to retain control of its for-profit arm, limiting CEO Sam Altman’s power and responding to criticism and legal challenges, including a lawsuit from co-founder Elon Musk. The nonprofit parent will remain in charge and become a big shareholder in the for-profit entity, allowing OpenAI to raise more capital for AI development. Questions remain about the level of control the nonprofit will have and how it will balance profit-making with its mission. Musk’s lawsuit against OpenAI will proceed amid the changes. SoftBank’s planned $40 billion investment in OpenAI remains on track.



Read more at Yahoo Finance: OpenAI dials back conversion plan, nonprofit to retain control