New document shows OpenAI’s transformation from nonprofit to $157 bn giant

Back in 2016, a scientific research organisation incorporated in Delaware and based in Mountain View, California, applied to be recognized as a tax-exempt charitable organization by the Internal Revenue Services.

Called OpenAI, the nonprofit told the IRS its goal was to advance digital intelligence in the way that is most likely to benefit humanity as a whole, unconstrained by a need to generate financial return.