Market Chatter: Microsoft-Backed OpenAI in Talks with Regulator to Become For-Profit Company

MT Newswires Live11-05 20:43

Microsoft-backed (MSFT) OpenAI is in early talks with the California attorney general's office to become a for-profit business, Bloomberg News reported Tuesday, citing people familiar with the matter.

OpenAI, currently has a nonprofit structure. It is expected to submit the details of its restructuring plan to Attorney General Rob Bonta after finalizing the proposal, Bloomberg said.

OpenAI and the office of Attorney General did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 409.17, Change: +0.71, Percent Change: +0.17

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