Tech giant Meta is facing off with the makers of ChatGPT, accusing them of unlawfully benefitting from its non-profit title.
Facebook’s parent firm sent a new letter to the California AG regarding the matter and how it should be blocked from its transition of tranforming into a profitable entity. The company shared in the open letter how OpenAI was openly flouting the law by reappropriating assets designed for the sake of charity. They also made use of them to get more private gains.
The report was first shared by the WSJ which goes as far as to elaborate more on how Elon Musk is a more suitable candidate to represent those in California. This is clear evidence of Meta’s support in Musk’s fight against the AI giant.
At the start, the whole idea behind OpenAI was non-profit. But after getting so much global commercial success with its ChatGPT tool that made billions every year in terms of revenue, it really entered into a world of its own. Today, revenue hits billions annually and the CEO has made it clear that the non-profit status is non-existent.
This is the only way it can become more attractive to its investors and ensure funding of ambitions. At the moment, stakes are sky high because if it’s indeed found guilty, it might be forced to give back all the billions it earned in 2024 with the giant interest stake. This is only if it fails to move to its for-profit status within two years.
In a new letter shared with the government, Meta argued that the conduct might give rise to seismic implications for the whole of Silicon Valley. It could wrongly represent the shift that tech firms need by enticing investors to roll out bigger companies as a nonprofits and then go about making millions via donations for research and advancement. After that, they would get the for-profit status as popularity and success rises.
As one can expect, OpenAI is not happy with the news. They shared a new letter to the whole community about making attempts to fulfill its obligations in transforming into a profitable entity. This includes making sure it can continue the mission of securing AGI benefits for humanity.
Image: DIW-Aigen
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Facebook’s parent firm sent a new letter to the California AG regarding the matter and how it should be blocked from its transition of tranforming into a profitable entity. The company shared in the open letter how OpenAI was openly flouting the law by reappropriating assets designed for the sake of charity. They also made use of them to get more private gains.
The report was first shared by the WSJ which goes as far as to elaborate more on how Elon Musk is a more suitable candidate to represent those in California. This is clear evidence of Meta’s support in Musk’s fight against the AI giant.
At the start, the whole idea behind OpenAI was non-profit. But after getting so much global commercial success with its ChatGPT tool that made billions every year in terms of revenue, it really entered into a world of its own. Today, revenue hits billions annually and the CEO has made it clear that the non-profit status is non-existent.
This is the only way it can become more attractive to its investors and ensure funding of ambitions. At the moment, stakes are sky high because if it’s indeed found guilty, it might be forced to give back all the billions it earned in 2024 with the giant interest stake. This is only if it fails to move to its for-profit status within two years.
In a new letter shared with the government, Meta argued that the conduct might give rise to seismic implications for the whole of Silicon Valley. It could wrongly represent the shift that tech firms need by enticing investors to roll out bigger companies as a nonprofits and then go about making millions via donations for research and advancement. After that, they would get the for-profit status as popularity and success rises.
As one can expect, OpenAI is not happy with the news. They shared a new letter to the whole community about making attempts to fulfill its obligations in transforming into a profitable entity. This includes making sure it can continue the mission of securing AGI benefits for humanity.
Read next: The Rise of Instagram, Fall of Snapchat: Pew’s Take on Teen Social Media in 2024
