Copyright The New York Times
OpenAI said on Tuesday that it had adopted a new for-profit structure, a long-sought change that could allow the business to operate like a more traditional company while it raises the billions of dollars it needs to develop artificial intelligence. OpenAI said in a blog post that it had become a public benefit corporation, or P.B.C., which is a for-profit corporation designed to create public and social good. OpenAI rivals like Anthropic and xAI, which is owned by Elon Musk, use a similar structure. The nonprofit that has controlled OpenAI since it was founded in late 2015 received a roughly $130 billion stake in the new for-profit company, which is called OpenAI Group PBC. OpenAI said the nonprofit, now called the OpenAI Foundation, would continue to control the for-profit company, though it did not provide details. Microsoft, OpenAI’s largest investor, will also maintain a stake in the new company worth roughly $130 billion as well. The nonprofit holds a 26 percent stake in the new company, Microsoft controls a roughly 27 percent stake and the remaining 47 percent is held by current and former employees and other investors. OpenAI said that it had completed the restructuring after negotiations with the attorneys general in Delaware, where it was founded, and California, where it is headquartered. This is a developing story. Check back for updates.
