A source told The Associated Press, however, that the company is looking at the possibility of turning OpenAI into a public benefit corporation. Any change to OpenAI's structure will require it to navigate the laws governing tax-exempt organizations.Andrew Steinberg, counsel at Venable LLP and a member of the American Bar Association 's nonprofit organizations committee, said it would be an "extraordinary" transaction to change the structure of corporate subsidiaries of a tax-exempt nonprofit. "Is OpenAI carrying out its charitable mission? To be granted tax-exempt status, OpenAI had to apply to the IRS and explain its charitable purpose. OpenAI for its part says it is proud of its safety record.Will OpenAI board members avoid conflicts of interest?

Source: Economic Times October 12, 2024 13:53 UTC