Delaware Attorney General Kathy Jennings is overseeing OpenAI’s $300 billion restructuring by hiring an investment bank for an independent review. The bank will assess whether OpenAI’s nonprofit parent is receiving fair value following its aim to convert its for-profit arm into a Public Benefit Corporation.
As OpenAI faces scrutiny over its shifting mission and profitability goals, both Delaware and California AGs are investigating. Elon Musk’s lawsuit challenges OpenAI’s alignment with its original nonprofit mission, amid fears that legal issues may endanger $20 billion funding intended for expansion.
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