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Delaware attorney general reportedly hires a bank to evaluate OpenAI’s restructuring plan
Delaware's attorney general is hiring an investment bank to advise on OpenAI's for-profit conversion, the Wall Street Journal reported.
Delaware’s attorney general is hiring an investment bank to advise on OpenAI’s for-profit conversion, the Wall Street Journal reported on Wednesday. OpenAI’s conversion will help it attract new investment and eventually go public, but first, the startup needs to secure approvals from state regulators. Corporate governance experts say Elon Musk may have raised the price of OpenAI’s nonprofit when he submitted a $97.4 billion takeover bid for the startup, despite the fact that OpenAI promptly rejected it.
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