Rattlin' News from the Frontier

Posted:

12:14 PM PDT · May 29, 2025

Well, partner, seems like Delaware's attorney general is ropin' in an investment bank to rustle up some advice on OpenAI's plans to mosey on over into the for-profit pastures. Word from the Wall Street Journal on Wednesday says this independent look-see might slow their roll or throw a few more spanners into OpenAI's works.

Roundin' Up Investments

OpenAI's aimin' to build up its treasure chest and maybe ride into the public market sunset one day. But before it can saddle up on approvals from the regulators, it needs a nod from the ol' state authorities. While OpenAI and its trusty sidekick Microsoft have already hitched their wagons to some banks for advice, Delaware's lawmen are fixin' to take a gander themselves at the equity that OpenAI's nonprofit stands to rope in.

Regulators on the Trail

Looks like the regulators are zeroing in on a crucial piece of OpenAI's conversion, which might just toss a wild card into the price OpenAI has to put down to straighten out its affairs. Them corporate folks reckon that Elon Musk's highfalutin $97.4 billion takeover offer might have gussed up the price tag for OpenAI’s nonprofit, even though OpenAI turned him down quicker than a rattlesnake in a prickly pear patch.