OpenAI is completing its metamorphosis from a nonprofit organization operating for the good of humanity to a shareholder-focused company gearing up for one of the biggest IPOs in history.

Internal records show that OpenAI founders had private doubts about the non-profit structure as early as 2017.

OpenAI is preparing for an IPO later in 2026.

Elon Musk had a falling out with Sam Altman because Musk felt Altman had abandoned OpenAI's altruistic goals for profit.

OpenAI successfully converted from a nonprofit to a for-profit entity.

OpenAI is now solidly a for-profit institution, with the original nonprofit holding only a 26-27% minority stake.