KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
OpenAI is considering giving CEO Sam Altman a 7% equity stake and transitioning into a for-profit structure, marking a significant shift for the AI startup. This would be the first time Altman has been granted ownership in the company, which was founded in 2015 as a non-profit with the mission of developing AI to benefit society.
The company is contemplating becoming a public benefit corporation, balancing profit-making with societal contributions, though the timeline for the transition remains undecided. Despite this shift, OpenAI's spokesperson emphasized that the non-profit arm will continue to play a core role in its mission.
The news comes amidst a series of executive departures from OpenAI, including the recent resignation of Chief Technology Officer Mira Murati, who played a critical role in the development of ChatGPT and DALL-E. Murati’s departure, which shocked many employees, is part of a broader exodus of top managers following Altman’s temporary ouster last year.
OpenAI's move to restructure comes as the company faces massive growth and demand for AI innovations, particularly as it works to raise $6.5 billion at a $150 billion valuation. This transformation would help fund the increasing costs of developing cutting-edge AI models, which have already attracted billions in investment from Microsoft and others.
While Altman had previously resisted taking equity, often stating that his focus was on societal impact, the potential 7% stake would align with OpenAI's evolving business model. The transition to a more traditional for-profit structure reflects the company's ambition to maintain its leadership in the competitive AI space while navigating internal changes and external investment pressures.
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