WIRTW: OpenAI becomes For-Profit, Earnings Snapshot, and Fed Pivots

Earnings snapshot, OpenAI recapitalizes, Fed pivot, Elon on All-In, and what caught my eye on X.

Caught My Eye… 1) OpenAI’s Corporate Evolution After months of speculation, the company has formalized its transition into OpenAI Group PBC, a for-profit public benefit corporation currently valued at $500 billion, controlled by the original nonprofit foundation. The shift ends its complex “capped-profit” experiment, where investor returns were previously limited to 100x, and clarifies ownership stakes that had been an open question since last year’s governance crisis. The mission of “ensuring that AGI benefits all of humanity” will be shared across both orgs as the OpenAI Foundation will…

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