OpenAI is reevaluating its corporate structure to better support its mission of advancing artificial general intelligence (AGI) for the benefit of all humanity. The company’s Board of Directors is considering a change that will enable it to raise necessary capital, ensure long-term sustainability, and equip each arm of the organization to do its part.
Currently, OpenAI operates with both a non-profit and for-profit structure, which has allowed the company to raise significant funding from investors while maintaining its commitment to philanthropic endeavors. However, as the company continues to grow and advance its technology, it has become clear that a more formalized and sustainable structure is needed.
OpenAI’s Board of Directors has identified three key objectives for its corporate structure:
1. Choose a non-profit / for-profit structure that best supports the long-term success of the mission.
2. Make the non-profit sustainable through fair valuation and resource allocation.
3. Equip each arm to do its part, with the non-profit focusing on charitable initiatives and the for-profit driving business operations.
The company plans to transform its existing for-profit into a Delaware Public Benefit Corporation (PBC), which will enable it to balance shareholder interests, stakeholder interests, and public benefit interests in its decision-making. This structure will allow OpenAI to raise capital with conventional terms while maintaining its commitment to philanthropy.
Ultimately, OpenAI’s mission is not just about building advanced technology but also about influencing others and creating a positive impact on society. As the company continues to evolve, it must stay true to its core values and adapt its structure to ensure long-term success in advancing AGI for humanity’s benefit.
Source: https://openai.com/index/why-our-structure-must-evolve-to-advance-our-mission