Delaware AG Seeking Bank to Advise on OpenAI Restructuring (1)

Delaware’s attorney general is planning to hire an investment bank that would advise her office as it examines OpenAI’s restructuring plans aimed at drawing more investors, according to a person familiar with the matter.

The bank would help Delaware Attorney General Kathy Jennings complete an independent valuation of OpenAI’s assets to fulfill her responsibilities to review the restructuring plan, according to the Wall Street Journal, which reported earlier on the matter.

OpenAI has been in talks over its restructuring plans with officials in Delaware and California who have the power to sue the company if they determine the overhaul is ...