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While the matter is still in court, more trouble is seemingly brewing for the ChatGPT maker.
Failure to meet this critical threshold would mean it would have to refund the money to the investors.
OpenAI logo
For context, OpenAI announced its for-profit arm in 2019 as an avenue to raise money for its advances.
However, its business model was limited to charitable purposes designed to benefit humanity.
The government isn’t OpenAI’s only problem; the Internal Revenue Service could also challenge the transition.
The ChatGPT maker will need its board of directors and regulators to support its transition into a for-profit entity.
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