Explainer-Why OpenAI plans transition to public benefit corporation

Quick Summary:

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.

Under the new organization, the non-profit will own shares in the for-profit, similar to outside investors, and the for-profit will fund the charitable mission of the non-profit.

OpenAI's new structure aims to potentially make a more investor-friendly corporation, while maintaining a mission of funding a related charity.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Pbcs For-profit Non-profit Structure Openai Benefit Delaware Company Corporation Mission Public

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-28 @ 05:43:30 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 574 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 24703998

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