Why ChatGPT creator OpenAI plans transition to public benefit corporation

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Why ChatGPT creator OpenAI plans transition to public benefit corporation - SCMP

Quick Summary:

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

Under the new organisation, 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.

As of December 2023, there were 19 publicly traded PBCs, according to research by Jens Dammann of the University of Texas.