OpenAI began in 2015 as a nonprofit aimed at advancing AI for humanity, evolving into a hybrid for-profit model to pursue growth.
The change toward a for-profit benefit corporation signifies a potential loss of nonprofit board control, but they will retain a role in the company.
This new structure allows CEO Sam Altman to gain equity potentially worth billions and lifts the previous profit cap for investors.
Despite the shift to a for-profit model, OpenAI's nonprofit goals will continue to play an important role within the company.
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