OpenAI Completes Recapitalization
OpenAI has completed its recapitalization, resulting in a for-profit corporation within a non-profit foundation.
The new structure consists of the non-profit OpenAI Foundation, which will have legal control over the public benefit corporation OpenAI Group.
- OpenAI Group can raise funding or acquire companies without legal restraint.
- The Foundation will hold a significant stake in OpenAI Group and appoint its board of directors.
“We believe that the world’s most powerful technology must be developed in a way that reflects the world’s collective interests,”
said OpenAI chairman Brett Taylor in a blog post.
Author's summary: OpenAI completes its for-profit recapitalization process.
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