OpenAI has decided to remain under nonprofit control and will convert its for-profit subsidiary into a Public Benefit Corporation (PBC), following discussions with the attorneys general of California and Delaware. This change drops the previous cap on investor returns to help OpenAI raise the massive funding needed for its mission to develop AGI that benefits all of humanity. The nonprofit will retain governance of the PBC and receive an equity stake, ensuring its influence grows as the company scales. CEO Sam Altman reaffirmed the organization’s commitment to democratic, accessible AI.
Source: The Verge
