Explainer: Why OpenAI plans transition to public benefit corporation
OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it raise capital and stay ahead in the costly AI race against companies such as Google.
OpenAI Wants to Create a ‘Public Benefit Corporation.’ Here’s What That Means.
OpenAI announced plans to refresh its corporate structure, indicating that though the year may be drawing to a close, the artificial intelligence battle is not. The company—which developed AI chatbot ChatGPT—says it wants to transform its current for-profit arm into a public-benefit corporation,
OpenAI reveals plan to convert to public benefit corporation
OpenAI announced plans to become a public benefit corporation and shed the control of its nonprofit board. Elon Musk and Meta are already fighting the move.
OpenAI to seek capital as a public benefit corporation in the vein of Patagonia
Market watchers have said an initial public offering from OpenAI seems unlikely in 2025 given that it’s been able to raise billions of dollars in backing in private markets, inc
OpenAI's for-profit plan includes a public benefit corporation
The move] would enable us to raise the necessary capital with conventional terms like others in this space.” As part of the transformation, OpenAI’s nonprofit division would retain a stake in the for-profit unit in the form of shares “at a fair valuation determined by independent financial advisors,
OpenAI proposes public benefit corporation model to drive AI development
OpenAI is exploring a transition to a Delaware Public Benefit Corporation, seeking to boost investor interest while maintaining its nonprofit mission.
OpenAI Details Plans for Becoming a For-Profit Company
OpenAI said it will be restructured as a public benefit corporation, and the nonprofit that controls the organization would ...
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OpenAI says it needs ‘more capital than we'd imagined' as it lays out for-profit plan
OpenAI said in a blog post Friday that heading into 2025, “we have to becomean enduring company,” which requires changing its ...
OpenAI Says It Needs More Money as the ChatGPT Maker Moves Toward For-Profit Structure
ChatGPT maker OpenAI said it needs to raise more capital than expected, and laid out plans for transitioning toward a ...
OpenAI reveals new details about its plan to convert to a for-profit structure: 'We have to become an enduring company'
OpenAI is planning to convert its for-profit arm to a public benefit corporation in Delaware "with ordinary shares of stock." ...
Nonprofit group joins Elon Musk’s effort to block OpenAI’s for-profit transition
Encode, the nonprofit org that co-sponsored California’s ill-fated SB 1047 AI safety legislation, has requested permission to file an amicus brief in support of Elon Musk’s injunction to halt OpenAI’s ...
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OpenAI Mulls Plan for a More Conventional For-Profit Business
OpenAI, founded a decade ago as a research organization, is considering a change to the AI company’s structure that would ...
OpenAI embraces for-profit model to chase AI dreams
Founded in 2015 as a research-focused non-profit, OpenAI has rapidly evolved into one of the world's most valuable startups.
OpenAI lays out plan to shift to new for-profit structure
Under the proposed structure, the public benefit corporation (PBC) will run and control OpenAI's operations and business, ...
OpenAI’s deal with News Corp could distort flow to public, experts warn
While News Corp has signed commercial deals with OpenAI, most local publishers have blocked AI firms from scraping their news ...
OpenAI whistleblower's mother wants suicide death investigation reopened
OpenAI whistleblower Suchir Balaji's death was ruled a suicide — but his family is calling on police to reopen their ...