CNBC December 27, 2024
Key Points
– In a blog post Friday, OpenAI laid out its early plans for changing its corporate structure to allow for more capital raising and growth.
– OpenAI said its existing for-profit division will become a public benefit corporation, or PBC, “with ordinary shares of stock.”
– The PBC will oversee commercial operations, and the nonprofit will hire a staff to pursue charitable initiatives, OpenAI said.
OpenAI said Friday that in moving toward a new for-profit structure in 2025, the company will create a public benefit corporation to oversee commercial operations, removing some of its nonprofit restrictions and allowing it to function more like a high-growth startup.
“The hundreds of billions of dollars that major companies are now investing...
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