OpenAI has announced a shift to a public benefit corporation model while retaining control under its for-profit board following scrutiny over its original mission. CEO Sam Altman indicated that this move allows for a simpler governance structure and eases investor concerns that had stymied fundraising efforts. Altman noted that this change will ensure that the non-profit entity continues to oversee OpenAI, but with a significant stake in the business arm, allowing for necessary funding while addressing civic leaders' concerns.
OpenAI will remain under a for-profit board while transitioning to a public benefit corporation, balancing growth with its original mission of benefiting humanity.
Altman emphasized that the new structure aims to simplify governance and attract funding while maintaining a non-profit's commitment to its mission.
The decision came after consultation with civic leaders and regulators, reflecting OpenAI's responsiveness to concerns about its direction.
Altman assured staff that the changes would not represent a sale, but a necessary evolution towards a more standard capital structure.
Collection
[
|
...
]