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OpenAI, the artificial intelligence company that developed the popular ChatGPT chatbot and the text-to-art program Dall-E, is at a crossroads. On Oct. 2, 2024, it announced that it had obtained US$6.6 billion in new funding from investors and that the business was worth an estimated $157 billion—making it only the second startup ever to be valued at over $100 billion.

Unlike other big tech companies, OpenAI is a nonprofit with a for-profit subsidiary that is overseen by a nonprofit board of directors. Since its founding in 2015, OpenAI's official mission has been "to build artificial general intelligence (AGI) that is safe and benefits all of humanity."

By late September 2024, The Associated Press, Reuters, The Wall Street Journal and many other media outlets were reporting that OpenAI plans to discard its nonprofit status and become a for-profit tech company managed by investors. These stories have all cited anonymous sources. The New York Times, referencing documents from the recent funding round, reported that unless this change happens within two years, the $6.6 billion in equity would become debt owed to the investors who provided that funding.

The Conversation U.S. asked Alnoor Ebrahim, a Tufts University management scholar, to explain why OpenAI's leaders' reported plans to change its structure would be significant and potentially problematic.

How have its top executives and board members responded?

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