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Market Chatter: OpenAI Considering Granting Nonprofit Board Special Voting Powers
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In response to Musk's hostile takeover, OpenAI is considering setting up special voting rights.
OpenAI is considering granting special voting rights to its Board of Directors for its non-profit institution to ensure that it maintains control after transitioning into a for-profit entity, and to be able to overturn decisions made by other investors, including existing investors like Microsoft and SoftBank. The special voting rights will also help OpenAI fend off hostile takeovers from external parties like Musk.
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Express News | OpenAI considers special voting rights to guard against hostile takeovers, FT reports.
