ChatGPT creator OpenAI's upcoming funding round, estimated to be around $6.5 billion, could close as early as the end of next week.

According to a report from The Wall Street Journal, OpenAI's anticipated conversion from a nonprofit organization to a for-profit entity is now nearly certain. Investors in this funding round will have the option to withdraw their investments if OpenAI does not complete the transition within two years, as stated by the WSJ.

The article highlights that, despite recently achieving $4 billion in revenue, OpenAI is still incurring substantial losses and facing challenges such as internal conflicts, a high-risk work culture prone to burnout, and technical delays. Researchers at the company reportedly had only nine days to conduct safety tests on GPT-4o, OpenAI’s latest flagship model, as the company hurried to launch it ahead of Google's annual I/O developer conference in May.