SP500 - breaks lower out of the range as September begins

n an effort to attract investors, OpenAI is developing a proposal to reorganise its business structure into a for-profit entity. CEO Sam Altman would supposedly receive shares in the change.

A number of top executive resignations were also revealed by the corporation, including those of research vice president Barret Zoph, chief technology officer Mira Murati, and chief research officer Bob McGrew.

Reuters was the first to report on OpenAI's intentions to switch to a for-profit business model. This announcement coincides with the company's efforts to secure $6.5 billion in funds. According to a recent Wall Street Journal story, long-time investor Microsoft, together with Apple, NVIDIA, and the United Arab Emirates company MGX, are anticipated to take part in the funding round.

Additionally, according to recent sources, OpenAI is one of the most valuable start-ups in the world, with a valuation of around $150 billion.

The company was founded in 2015 as a non-profit AI research organisation, then in 2019 it established a for-profit AI corporation as a subsidiary to oversee its ChatGPT product.