OpenAI announces official plans to change into a for-profit company

CNBC's Kate Rooney joins 'Squawk Box' to report on the latest news.

[MauMau]

Start as a non-profit -> Get hundreds of millions in donations -> Become a for profit company -> Profit

[tny]

So first they steal everyones material and now they admit its for profit.... that is not fair use that is THEFT.

[htconexify]

I don't agree with elon musk too much but he's right on this. This is as shady as it gets. Needs to be investigated

[mjad]

They used public funds to grow to this point, how on earth is this allowed

[KaiSosceles]

Convert to for-profit -> allow the already-rich to invest in the private company -> go public -> rich people dump on retail investors

[juliahello]

Elon talked about OpenAI violating their nonprofit status before he created XAI. In fact that was why he created it. So saying he is just trying to ruin a competitor is not valid chronologically.

[doughayden]

Sooo ... we can't trust Sam Altman?

[aviation]

shouldn't the people who donated then get shares based on open AI's first valuation (prior to Microsoft's investment)?

[dinosaurdude]

What tax implications are there from a nonprofit to go for-profit? Why do other organizations not do the same if it’s a simple switch?

[damonkatos]

It was leaked in a letter from Microsoft to Open Ai that they revealed AI will be successful when it generates $100 billion.
Nothing about the Ai actually doing what it’s supposed to do.

[micbab-vgmu]

Google should change into non-profit - all Google AI models are for free:) for OpenAI I pay 200$ per month:)

[joshuaburns]

Now we just need the non profit food banks to become for profit

[ill_will]

Now they are going to be desperate to make a profit, although they are not profitable. Values are out the window as well

[Dexter]

If it's for-profit, they're actively acting in competitive manners against other companies. If they are competing against other companies... how can they still demand "fair use" over grabbing everybody's copyrighted content to train own for-profit product?

[godzillamothra]

it should change the name to OpenWalletAI

[PukeSkinwalker]

I think every corporation should be structured as a Public benefit corporation. It is ridiculous that there aren't more. I mean health insurance should be mandated to bet that corporation. I mean shouldn't for profit prisons too be that. I means shouldn't the testing materials for corporations do that. It seems ridiculous.

[jjcooney]

And just like that, Open Development is dead. Thank you for selling out the public Sam Altman.

[andrewwalker]

Hahaha so “I want to be one of the richest people in the world” wasn’t a factor?

[HagJules]

Since OpenAi trained AI on humanity’s resources then Public Ownership of AI Profits is due.

[vaibhavagarwal-jg]

When you have our data… now turn for profit