OpenAI walks back for-profit plan, nonprofit to keep control

OpenAI is backtracking on plans to become a more conventional for-profit company after facing mounting pressure from former employees, academics and rivals, including billionaire Elon Musk.

The ChatGPT maker said Monday that it’s moving forward with an effort to restructure its for-profit division as a public benefit corporation, but the overall business will instead remain under the control of its nonprofit — a major shift in its plans that will effectively maintain the contours of how OpenAI is currently set up.

“We made the decision for the…