Last year, OpenAI was on the verge of bankruptcy, with projections of making a $5 billion loss within 12 months. However, key investors, including SoftBank, Microsoft, and NVIDIA, raised $6.6 billion through a funding round, pushing the ChatGPT maker's market capitalization to $157 billion.
The round of funding seemingly mounted pressure from investors, coercing it to restructure its business model into a public benefit corporation (PBC) or risk refunding the funds raised within two years. As it happens, OpenAI is reportedly deliberating transforming into a for-profit entity (via Financial Times). However, the process has seemingly been stunted as the ChatGPT maker struggles to determine Microsoft's equity in the PBC.
