Supported by Microsoft (NASDAQ:MSFT), OpenAI has declared intentions to restructure itself by establishing a money-making company alongside its non-profit division. The suggested modifications seek to maintain its goal of guaranteeing artificial general intelligence (AGI) advances society. The nonprofit board of the company is looking at a structure wherein its present for-profit company becomes a Delaware Public Benefit Corporation (PBC). Commonly embraced by companies juggling profit with social benefits, the new model would allow OpenAI to draw money on traditional terms while giving public concerns top priority. According to OpenAI, impartial financial advisers will guide the fair valuation of the PBC from which its nonprofit will own shares.
The PBC would handle corporate operations; the charity would concentrate on charitable endeavors in science, education, and health care. Originally established as a research lab in 2015, OpenAI co-founded by Sam Altman and Tesla (NASDAQ:TSLA) CEO Elon Musk launched it as a startup in 2019. OpenAI has already raised major money, including $6.6 billion in October 2024, bringing its valuation to $157 billion. Musk left over disagreements over its for-profit orientation. Originally joining the search engine industry to rival Google, part of Alphabet (GOOGL), OpenAI's core product, ChatGPT, has powered its expansion.
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