OpenAI is becoming a for-profit company

Good morning,

The FTC has put bogus AI companies on blast, as it begins a crackdown on overhype. At the same time, the Justice Department wants companies and people to consider the risks of AI more broadly. Sam Altman is about to become a very wealthy man as OpenAI moves from non-profit to a for-profit structure, awarding him equity, at the same time that the company raises $6.5B at a $150B valuation. At the same time, more shake-ups are happening in the company’s C-suite as Mira Murati departs.

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