From non-profit roots to for-profit ambitions: the OpenAI saga

(Reuters) -Microsoft and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion and giving it more freedom in its business operations. The Windows-maker will still hold a stake of about $135 billion, or roughly 27%, in OpenAI Group PBC, which will be controlled by the OpenAI Foundation, a nonprofit, the companies said. Below is a timeline of important events related to the startup at the heart of the AI boom, since its inception: Date Event December 11, Tech executives including Elon Musk and Sam 2015 Altman announce the launch of OpenAI, pouring in $1 billion to create the AI firm 2018 OpenAI announces that Musk is leaving its board 2019 OpenAI creates for-profit arm to help raise funds from investors Nov. 17, OpenAI board fires CEO Altman and President 2023 Greg Brockman quits. Mira Murati named as interim CEO Nov. 18, Altman's firing was over a "breakdown in 2023 communication between Sam and the board," and not "malfeasance", COO Brad Lightcap says in an internal memo Nov. 20, Microsoft CEO Satya Nadella says the Windows 2023 maker has hired Altman, Brockman and their colleagues to lead a new advanced AI research team OpenAI appoints former Twitch boss Emmett Shear as interim CEO. Shear pledges probe into Altman's exit. Nearly all OpenAI staff threaten to quit and join Altman at Microsoft, demanding board resign and Altman and Brockman are reinstated Nov. 21, OpenAI says Altman will return as CEO with a 2023 new initial board. Brockman will also return Nov. 29, Altman says Microsoft will take a non-voting, 2023 observer position on OpenAI's board Dec. 13, Axel Springer partners with OpenAI in a 2023 first-of-its-kind deal to deliver summaries of the global news publisher's content Dec. 27, The New York Times sues OpenAI and Microsoft, 2023 accusing them of using the newspaper's articles without permission to train chatbots Jan. 25, The FTC orders OpenAI, Microsoft, Alphabet, 2024 Amazon and Anthropic to provide information on recent investments and partnerships as it scrutinizes tech deals Feb. 16, OpenAI completes a deal that values it at $80 2024 billion or more, according to media reports March 1, Musk sues OpenAI and Altman, saying they 2024 abandoned the startup's original mission to develop AI for the benefit of humanity March 8, Altman returns to the OpenAI board along with 2024 three new directors May 14, 2024 OpenAI co-founder and chief scientist Ilya Sutskever leaves the company June 10, OpenAI hires Sarah Friar, former CEO of social 2024 media firm Nextdoor, as its first CFO June 11, Musk moves to dismiss his lawsuit against 2024 OpenAI and Altman July 10, Microsoft gives up its board observer seat at 2024 OpenAI August 5, Musk revives lawsuit against Altman and OpenAI 2024 September OpenAI's three top technical leaders, 25, 2024 including CTO Mira Murati, quit the company October 2, OpenAI raises $6.6 billion, valuing the 2024 company at $157 billion December 27, OpenAI says it plans to revamp its for-profit 2024 arm into a public benefit corporation (PBC) to ease the restrictions imposed by its current non-profit parent January 14, Private equity veteran Adebayo Ogunlesi, CEO 2025 of Global Infrastructure Partners (GIP), joins OpenAI's board January 21, OpenAI plans joint venture with SoftBank and 2025 Oracle to build up to $500 billion of new AI data centers in the United States Microsoft changes its exclusive deal terms with OpenAI to allow the company to build additional data center capacity, paving the way for the JV January 22, OpenAI and SoftBank say they will each commit 2025 $19 billion to fund Stargate, a joint venture to develop data centers for AI in the U.S January 30, SoftBank Group is in talks to lead a funding 2025 round of up to $40 billion in OpenAI at a valuation of $300 billion, including new funds, sources say February 10, A consortium led by Musk offers to buy the 2025 nonprofit that controls OpenAI for $97.4 billion. February 11, OpenAI's board has not received Musk's 2025 takeover bid, source says February 13, Consortium led by Musk will withdraw its bid 2025 for OpenAI's non-profit arm if the startup drops plans to become a for-profit entity, Musk's lawyers say February 14, OpenAI rejects Musk's bid for the ChatGPT 2025 maker, saying the startup is not for sale and that any future bid would be disingenuous March 4, A U.S. judge denies Musk's request for a 2025 preliminary injunction to pause OpenAI's transition to a for-profit model but agrees to a fast-track trial in the fall of this year March 5, Britain drops its probe into Microsoft's 2025 partnership with OpenAI March 15, OpenAI and Musk agree to fast-track a trial 2025 over for-profit shift March 28, OpenAI must transition to a for-profit company 2025 by the end of the year to secure the full $40 billion funding led by SoftBank, a source says April 1, OpenAI officially announces raising up to $40 2025 billion in a new funding round led by SoftBank Group at a $300 billion valuation April 4, Musk's lawsuit against OpenAI will go to a 2025 jury trial in spring 2026, federal judge presiding over the case decides April 9, OpenAI countersues Musk, citing a pattern of 2025 harassment by him April 15, OpenAI names members to its newly formed 2025 nonprofit commission, which will guide the company's philanthropic efforts April 16, OpenAI in discussions to buy AI-assisted 2025 coding tool Windsurf for about $3 billion – report May 5, 2025 OpenAI says it would remain under the control of its nonprofit parent, while pushing ahead with plans to change the structure of its for-profit arm May 8, 2025 Instacart head Fidji Simo steps down to join OpenAI as its chief of applications May 19, 2025 OpenAI prevails in a lawsuit in Georgia that accused the ChatGPT maker of defaming a radio host by fabricating allegations and a fictional lawsuit against him May 21, 2025 OpenAI buys Jony Ive's startup io Products in a $6.5 billion deal May 28, 2025 OpenAI's CFO Sarah Friar says the startup's restructuring plans position it for a potential future IPO OpenAI says its annualized revenue run rate June 9, 2025 surged to $10 billion as of June June 10, OpenAI plans to add 2025 Alphabet's Google cloud service to meet its growing needs for computing capacity, three sources tell Reuters OpenAI wins a $200 million contract to provide June 16, the U.S. Defense Department with artificial 2025 intelligence tools July 17, OpenAI launches AI agent for its ChatGPT 2025 July 22, OpenAI and Oracle expand their tie-up to 2025 develop another 4.5 gigawatts of data center capacity July 23, OpenAI wins trademark lawsuit over 'Open 2025 Artificial Intelligence' July 31, OpenAI plans to build its first Stargate data 2025 center project in Europe, partnering with developer Nscale Global Holdings and investment group Aker ASA August 18, OpenAI releases 2025 ChatGPT Go, a new India-only subscription plan priced at 399 rupees per month August 21, OpenAI announces to open first India office in 2025 New Delhi September 2, OpenAI says it will 2025 acquire Statsig in an all-stock deal valuing the product testing startup at about $1.1 billion based on OpenAI's current valuation of $300 billion September Microsoft and OpenAI sign a non-binding deal 11, 2025 for new relationship terms that would allow OpenAI to proceed to restructure itself into a for-profit company September OpenAI hires Mike Liberatore, former finance 16, 2025 chief at Musk's xAI, to be the AI startup's business finance officer September Nvidia plans to invest up to $100 billion in 22, 2025 OpenAI and supply it with data center chips September OpenAI, Oracle, SoftBank announce plans for 23, 2025 five new AI data centers in the U.S. September OpenAI rolls out parental controls for ChatGPT 29, 2025 on the web and mobile OpenAI introduces a feature that September would allow users 29, 2025 to make purchases through ChatGPT, in partnership with Etsy and Shopify Sept…

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