News from the Wild Frontier

Posted:

12:14 PM PDT · May 29, 2025

Well, partner, it looks like Delaware's attorney general is saddlin' up with an investment bank to lend a hand on OpenAI's trail to go from nonprofit to for-profit, so says the Wall Street Journal on this fine Wednesday. This here independent evaluation might just slow things down or tie OpenAI's plans in a knot.

Ridin' the Trail to Investment

OpenAI's got its sights set on attractin' fresh investment and one day goin' public, but first, they gotta secure the blessings of them state regulators. Even though OpenAI and their partner, Microsoft, have wrangled their own investment banks for advice on the deal, Delaware's lawman wants an independent look-see at the equity OpenAI's nonprofit might be gittin'.

Regulators Lasso the Key

Regulators are fixin' their gaze on a crucial piece of OpenAI's conversion, somethin' that could put a heap of change on the price tag OpenAI's gotta pay to simplify its doings. Those wise in the ways of corporate governance reckon Elon Musk might've hitchin' the price of OpenAI’s nonprofit when he threw a $97.4 billion offer on the table, even though OpenAI sent that offer packin'.