OpenAI announced it will abandon its controversial restructuring plan that would have diminished its nonprofit governance. Under this plan, the nonprofit would have only held a minority stake, potentially attracting more venture capital. Notably, this shift arose amid significant public opposition from legal scholars and former employees concerned about safety. OpenAI will transition its for-profit LLC to a Public Benefit Corporation, aiming to simplify its complex profit structure while still focusing on its original mission as a nonprofit overseeing a for-profit entity.
"OpenAI was founded as a nonprofit... and going forward will remain a nonprofit that oversees and controls the for-profit."
Collection
[
|
...
]