OpenAI Completes For-Profit Shift
OpenAI has completed its recapitalization plan, splitting the company into a for-profit corporation and a non-profit foundation.
The AI laboratory is now part of OpenAI Group, a public benefit corporation, while the non-profit entity, OpenAI Foundation, retains control over the for-profit arm.
According to chair Bret Taylor, the structure ensures the value of the non-profit's stake increases in-line with the commercial success of OpenAI.
- OpenAI Foundation holds an equity stake in the for-profit company, valued at approximately $130 billion.
- The recapitalization grants the Foundation additional ownership if the for-profit reaches a valuation milestone.
The rising value will be used by the non-profit side to fund its philanthropic work.
Author's summary: OpenAI splits into for-profit and non-profit entities.
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