Connect with us

Hi, what are you looking for?

Your Profit SpringYour Profit Spring

Tech News

Meta asks the government to block OpenAI’s switch to a for-profit

Mark Zuckerberg. | Image: Cath Virginia / The Verge; Getty Images

Meta is asking California Attorney General Rob Bonta to block OpenAI’s planned transition from a non-profit to for-profit entity.

In a letter sent to Bonta’s office this week, Meta says that OpenAI “should not be allowed to flout the law by taking and reappropriating assets it built as a charity and using them for potentially enormous private gains.”

The letter, which was first reported on by The Wall Street Journal and you can read in full below, goes so far as to say that Meta believes Elon Musk is “qualified and well positioned to represent the interests of Californians in this matter.” Meta supporting Musk’s fight against OpenAI is notable given that Musk and Mark Zuckerberg were talking about literally fighting in a cage match just last year.

OpenAI started as a non-profit but stumbled into commercial success with ChatGPT, which now makes billions of dollars a year in revenue. CEO Sam Altman has been clear that the company needs to shed its non-profit status to become more attractive to investors and continuing funding its ambitions. The stakes are so high that OpenAI will have to return the billions of dollars it raised this year (with interest) if it can’t successfully…

Read the full story at The Verge.

You May Also Like

Business

Chinese bargain retailer Temu changed its business model in the U.S. as the Trump administration’s new rules on low-value shipments took effect Friday. In recent days,...

Tech News

The latest Netflix app update will require Apple devices to run iOS 17 or later. | Illustration by Alex Castro / The Verge The...

Tech News

The new adaptive charging feature could help to save power and preserve the life of controller batteries. | Photo by Amelia Holowaty Krales /...

Business

U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing....