EU to Propose New Rules Limiting Children's Access to Social Media 
Wolfspeed Sues Navitas Over GaN and SiC Patent Infringement 
Deutsche Bank Fined A$2 Million by ASIC Over OTC Derivatives Reporting Errors 
Paramount-Warner Bros. Discovery Merger Faces Lawsuit From 12 States 
SK Hynix’s $28 Billion U.S. Share Sale Draws Massive Demand Amid AI Chip Boom 
Apple Intelligence Cleared for China as Alibaba and Baidu AI Power iPhone Features 
Australia Flags Child Safety Gaps at Apple, Meta, Google Over Online Sexual Extortion 
OpenAI Executive Fidji Simo to Step Down Amid Health Challenges Ahead of IPO 
Apple Tests China's CXMT Memory Chips as DRAM Maker Gains Global Market Share 
Arm Stock Falls After HSBC Downgrade, Citing Limited Near-Term AI Upside 
Rio Tinto Reports Strong Q2 Iron Ore Sales, Maintains 2026 Production Outlook 
SK Hynix Stock Soars as AI Memory Demand Outlook Fuels Chip Rally 
Stripe, Advent Offer $53 Billion Deal to Acquire PayPal: Reuters 
UBS Starts CarTrade Tech With Buy Rating, Sees Strong Earnings Growth and ₹4,000 Target 
SoftBank Corp Partners With Sierra to Expand AI Customer Support Across Japan 
Alibaba Stock Jumps as China Approves Apple Intelligence Powered by Qwen AI 
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth 
OpenAI, led by CEO Sam Altman, is in early discussions with California's attorney general to potentially transition into a for-profit entity. The change could attract new investors, marking a shift from OpenAI's original non-profit model established in 2015.
OpenAI's Strategic Shift Towards Profitability
OpenAI, which Sam Altman manages, is reportedly in preliminary discussions with the office of the California attorney general to modify its corporate structure in an effort to transform into a for-profit enterprise, according to a report published by Bloomberg News on Monday, which cited two individuals who are familiar with the situation.
Reuters' attempts for comment were not immediately met with a response from either OpenAI or a representative of the California Attorney General.
Potential Impact of Transitioning to a For-Profit Model
For the artificial intelligence pioneer, which was established in 2015 as a non-profit AI research lab, a transition to becoming a for-profit firm would represent a significant reversal in the governance structure of the organization. The change, on the other hand, would make the company more appealing to potential investors.
In September, Reuters was the first to reveal that Microsoft-backed organization opens a new tab. OpenAI was in the process of formulating a strategy to transform its primary business into a for-profit benefit corporation that would no longer be monitored by its non-profit board of directors.
OpenAI's Non-Profit Arm to Retain Stake
The non-profit organization known as OpenAI will continue to operate and will own a minority stake in the company that is for profit, according to people who spoke to Reuters.
OpenAI's Valuation Surges Amid Latest Funding
A funding round of $6.6 billion was successfully completed by the ChatGPT manufacturer late last month. This round of funding has the potential to value the firm at $157 billion, thereby solidifying its place as one of the most valuable private corporations in the world.
