In 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.

The non-profit will continue to operate and own a minority share in the AI corporation, but the firm is now aiming to make it its main, for-profit operation. Furthermore, OpenAI is also supposedly working to eliminate restrictions on investment returns.

CEO Altman may get a 7% ownership in OpenAI after the restructuring of the core business, according to Bloomberg.

Following the board and senior executives' attempt to remove Altman from the company last November, OpenAI experienced a wave of resignations over the course of several months this year, including some of its co-founders.

However, Altman was quickly reappointed and the board of the firm was reorganised.

(Sources: investing.com, bloomberg.com, wsj.com)