OpenAI Completes Recapitalization
OpenAI has completed its recapitalization, resulting in a for-profit corporation nested inside a non-profit foundation.
The new structure consists of the non-profit OpenAI Foundation, which will have legal control over a public benefit corporation called OpenAI Group.
- The OpenAI Foundation will hold a significant stake in OpenAI Group.
- The Foundation will appoint the board of directors of OpenAI Group.
We believe that the world’s most powerful technology must be developed in a way that reflects the world’s collective interests
— OpenAI chairman Brett Taylor
Author's summary: OpenAI completes its for-profit recapitalization process.