Why OpenAI’s Structure Must Evolve To Advance Our Mission

OpenAI's Board is evaluating a change to the company's corporate structure, with the stated plan to transform the existing for-profit into a Delaware Public Benefit Corporation while keeping a non-profit that holds a significant stake. The article says the company needs to raise more capital than it had expected, and that investors want conventional equity and less structural bespokeness. Under the plan, the PBC would run OpenAI's operations and business, and the non-profit's shares would be valued at a fair price set by independent financial advisors. The non-profit would then focus on charitable initiatives in areas such as health care, education, and science.