OpenAI must complete its transformation into a for - profit entity by the end of the year. Otherwise, it won't be able to secure the full $40 billion in financing. The Wall Street Journal reported today that OpenAI must transform into a for - profit company by the end of this year in order to obtain the financing led by SoftBank...

OpenAI must complete its transformation into a for-profit entity by the end of the year, otherwise it won't be able to obtain the full $40 billion in financing

The Wall Street Journal reported today that OpenAI must transform into a for-profit company by the end of this year in order to secure the full $40 billion in financing at the final stage led by SoftBank. If OpenAI fails to restructure into a for-profit company by the end of this year, the scale of this round of financing may be reduced to $20 billion (equivalent to approximately 145.36 billion yuan at the current exchange rate).

Sources revealed that according to the details of the financing agreement, SoftBank Group will initially invest $7.5 billion, and another consortium will inject $2.5 billion. Multiple insiders said that the hedge fund Magnetar Capital may contribute $1 billion. In addition, a second round of $30 billion in financing will be launched later this year, with SoftBank planning to invest an additional $22.5 billion and the consortium contributing $7.5 billion.

The Wall Street Journal

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