Connect with us

Hi, what are you looking for?

American Stock ReviewAmerican Stock Review

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

Editor's Pick

The over-deviated markets continued to extend their losses for the fourth week in a row. The Nifty remained largely under sustained selling pressure over...

Politics

A former deputy Palm Beach County sheriff who fled to Moscow and became one of the Kremlin’s most prolific propagandists is working directly with...

Politics

“And there’s very few states that benefit like you do from fracking. I mean, you have 500,000 jobs.” — Former president Donald Trump, remarks...

Politics

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...