AIFortuneabout 3 hours ago
OpenAI IPO faces SEC scrutiny over nonprofit control
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EyesOnOpenAI, a coalition of over 50 organizations, submitted a letter to the SEC urging full disclosure of governance risks in OpenAI's IPO. OpenAI's nonprofit foundation controls the company via special Class N stock and holds a 26% equity stake. The California Attorney General is conducting an ongoing investigation into OpenAI's restructuring.
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