OpenAI completes shift to becoming for-profit
OCT 29 - OpenAI has completed its long-planned conversion to a for-profit entity, a move that could allow it to raise billions of dollars in investment Kenya breaking news | Kenya news today |..
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OpenAI has officially transitioned into a for-profit entity, a strategic move that could facilitate significant investment and a potential stock market listing. This shift includes revised terms in its partnership with Microsoft, which now holds a 27% stake in the company.
- Microsoft can now independently pursue artificial general intelligence, and their rights to OpenAI’s AI models extend to 2032.
- The company, now valued at $500 billion, has reached 800 million weekly active users, as stated by boss Sam Altman.
- OpenAI has introduced new products like ChatGPT Atlas and the video generation tool Sora, but has also faced controversy, including blocking deepfakes of Dr. Martin Luther King Jr.
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OpenAI has officially transitioned into a for-profit entity, a move that could pave the way for a stock market listing and includes revised partnership terms with Microsoft, which now holds a 27% stake. This comes amid debates over AI's role in recent job cuts at major companies like Amazon. Meanwhile, to boost digital connectivity in East Africa, Meta has partnered with Safaricom to deploy a high-capacity submarine cable linking Oman and Kenya. In a related trend, Kenya's Out-of-Home (OOH) advertising industry is embracing technology and data-driven strategies for future growth. The industry aims to move from intuitive decision-making to intelligence-backed planning to enhance campaign measurement, as discussed at a conference in Nairobi.
