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OpenAI to become for-profit firm, Altman to get 7% stake: Report

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OpenAI is planning to restructure its business and become a for-profit organisation, reports said. The AI startup will reportedly give 7% equity stake to Sam Altman, marking the first time the CEO is granted ownership in the firm. OpenAI was founded in 2015 as a non-profit organisation. Later in 2019, the startup created a for-profit subsidiary.