OpenAI has a plan to update its structure, but plans to remain a non-profit company
Despite rumors that OpenAI may restructure into a commercial company, CEO Sam Altman confirmed that OpenAI’s mission will remain unchanged going forward.
Despite rumors that OpenAI may restructure into a commercial company, CEO Sam Altman confirmed that OpenAI’s mission will remain unchanged going forward.
«We want our nonprofit to be the largest and most popular,» Sam Altman said in a letter to employees published on the company’s blog.
He added that OpenAI was founded as a non-profit organization, is now a non-profit organization that controls commercial activities, and will continue to be a non-profit organization that controls commercial activities. «That will not change,» the company’s CEO emphasized.
However, Sam Altman said that there will be some changes to OpenAI’s organizational structure. In particular, the for-profit LLC within the nonprofit organization will transition to a Public Benefit Corporation (PBC) with the same mission. «PBCs have become the standard business structure for other AI labs like Anthropic and X.ai, as well as many focused companies like Patagonia. We think it makes sense for us,» the company’s CEO noted.
In addition, he added that OpenAI is moving from its current complex structure with limited profits to a simple capital structure where everyone has shares.
The nonprofit will continue to control PBC and will become a major shareholder in PBC in an amount supported by independent financial advisors. Sam Altman said the company is also looking for recommendations from a non-profit commission on how to help ensure the benefits of AI are available to everyone, not just individuals. «Their ideas will focus on how our nonprofit work can support a more democratic future for AI and have real impact in areas like healthcare, education, public services and scientific discovery,» he added.
Recall that in early April, OpenAI announced the attraction of $40 billion in investments to stimulate artificial intelligence research. However, OpenAI is at risk of having the amount of investment reduced by at least $10 billion if the company fails to restructure into a commercial company by December 31. OpenAI was originally created as a non-profit organization. According to a source familiar with the deal, cited by Tekedia, SoftBank’s investment, which invested $30 billion, will be reduced to $20 billion, while the remaining $10 billion, which comes from other investors, will remain unchanged.
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