More top execs leave OpenAI amid the company’s restructuring into for-profit

OpenAI, once a non-profit research lab founded on the ideal of developing artificial intelligence for the betterment of humanity, is reportedly undergoing a significant restructuring that could fundamentally change its mission.

According to a recent report from Reuters, the company plans to transform into a for-profit benefit corporation, similar to other players in the AI space, like Anthropic and X.ai. This shift, if it goes through, would mark a major departure from the founding ethos that has defined OpenAI since its inception.

Currently, OpenAI operates with a non-profit board that oversees the for-profit side of the business, balancing commercial viability with the broader goal of ensuring that AI benefits all of humanity. Under the proposed restructuring, the non-profit entity would continue to exist but would hold only a minority stake in the for-profit company. Importantly, the non-profit would no longer have operational control, a change that is reportedly intended to make OpenAI more attractive to investors by removing the caps on returns and creating more equity opportunities.

Another major element of the restructure is that CEO Sam Altman is set to receive equity in the newly-formed for-profit company, which insiders suggest is valued at a staggering $150 billion.

The specifics of the restructuring are still being finalized, with no clear timeline for when it will be completed.

Unfortunately, all this has been overshadowed by yet another exodus of top executives. This time it was CTO Mira Murati, Chief Research Officer Bob McGrew, and Research VP Barret Zoph that left the company. Speaking on the exit, Mira termed her decision to leave "difficult," but added that "this moment feels right." She said it's better when OpenAI is on an upward trajectory.

Sam Altman has also refuted claims that the departure of the three executives has anything to do with the company's restructuring. The CEO praised the contributions of the outgoing team while expressing his own excitement about returning to a more technical role within the company. “I have not been as involved in the tech recently as other things, because there’s been so much going on,” Altman said. “I’m excited to do that.”

Is there something we don’t know?

Still, you can't help but wonder. Is there something else going on behind the scenes? All the top people involved in founding OpenAI starting from Elon Musk have left the company. Only Sam Altman remains. Is it that the departing execs became overwhelmed with OpenAI’s fast growth or are they scared of what’s to come and don’t want to be part of it?