OpenAI, an artificial intelligence company, is finalizing a $40 billion funding round that is dependent on its restructuring into a for-profit company.
If openAI fails to complete the restructuring by the end of this year, the funding round could be reduced by $20 billion.
The restructuring requires approval from Microsoft, OpenAI's largest shareholder, as well as the California attorney general.
OpenAI generated $3.7 billion in revenue in 2024 and expects sales to reach $29.4 billion in 2026.