OpenAI’s vast journey from a tax-exempt charitable organization to $157 billion firm

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

Called OpenAI, the nonprofit told the US internal revenue service (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”.