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OpenAI transitions: From profit to public service
OpenAI Successfully Transforms Into Public Company
On May 6, OpenAI announced on its official blog the conversion of its for-profit entity into a “public benefit corporation” (PBC). The goal is to balance the effectiveness between the company’s mission and capital operations. The PBC will be subject to oversight and management by OpenAI’s original nonprofit organization, which will also become the main shareholder.
Decision After Legal Dialogue
Chairman Bret Taylor and CEO Sam Altman shared that this decision was made after discussions with the judicial authorities of California and Delaware. This move ensures the development of AI for the benefit of all humanity while enhancing the ability to raise funds to handle large computational resources in the AGI era.
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