Dec 13 (Reuters) - Meta Platforms ( META ) is urging

California's attorney general to block OpenAI's planned

conversion to a for-profit company, the Wall Street Journal

reported on Friday.

In a letter to Attorney General Rob Bonta dated Thursday,

Meta said that allowing OpenAI to become a for-profit company

would set a dangerous precedent of allowing startups to enjoy

the advantages of nonprofit status until they are poised to

become profitable, WSJ reported.

"OpenAI's conduct could have seismic implications for

Silicon Valley. If OpenAI's new business model is valid,

non-profit investors would get the same for-profit upside as

those who invest the conventional way in for-profit companies

while also benefiting from tax write-offs bestowed by the

government," the WSJ report quotes Meta as saying in the letter.