OpenAI Continues To Be Overseen, Controlled By Nonprofit: Sam ...
Sam Altman-run OpenAI has announced that it will continue to be overseen and controlled by the nonprofit, with its 'for profit LLC' transitioning into a public benefit corporation (PBC). This move is aimed at providing the nonprofit with better resources to support various benefits.
Key Structural Facts
OpenAI will maintain its oversight and control under the current nonprofit organization. The existing for-profit entity will be transformed into a Public Benefit Corporation (PBC), with the nonprofit retaining control and being a significant owner of the PBC. Both the nonprofit and the PBC will continue to uphold the same mission.
According to a statement from the ChatGPT maker, "Going forward, OpenAI will continue to be overseen and controlled by the nonprofit. Our for-profit LLC, which has been under the nonprofit's umbrella since 2019, will transition to a Public Benefit Corporation (PBC) - a purpose-driven company structure that prioritizes both shareholder interests and the organization's mission."
OpenAI Board chair, Bret Taylor, highlighted the decision-making process, stating, "We made the decision for the nonprofit to retain control of OpenAI after consultation with civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California."
Mission Alignment and Growth
Emphasizing continuity in mission, Sam Altman noted, "Our mission remains the same, and the PBC will have the same mission. We envision the nonprofit to be the largest and most effective nonprofit in history, focused on leveraging AI for the greatest impact on society."
Altman expressed excitement about the future growth of the PBC, which will in turn enhance the nonprofit's capabilities to drive positive change. He mentioned ongoing efforts to explore how AI can benefit society at large, particularly in areas such as health, education, public services, and scientific discovery.
In a letter to employees, Altman shared, "Creating AGI is our brick in the path of human progress; we can't wait to see what bricks you will add next."
This strategic shift positions OpenAI to continue its trajectory of rapid and safe progress, aiming to democratize access to advanced AI technologies for widespread societal benefit.
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