OpenAI Considered Spinning Off Robotics, Hardware Units Before IPO
According to The Wall Street Journal, OpenAI CEO Sam Altman explored spinning off the company's robotics and consumer-hardware divisions before an initial public offering (IPO). However, the plan was abandoned due to concerns that these units would still need to appear on OpenAI’s balance sheet. The hardware division includes a $6.5 billion acquisition of io, led by former Apple designer Jony Ive.
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Topics: Alphabet restructuring consumer-hardware unit IPO strategy OpenAI robotics division