According to the company, OpenAI's business wing, which has been under the nonprofit since 2019, will transition to a public benefit corporation (PBC). The nonprofit will control and also be a large shareholder of the PBC. 'OpenAI was founded as a nonprofit, and is today overseen and controlled by that nonprofit,' OpenAI Board Chairman Bret Taylor wrote in a statement on the company's blog. 'Going forward, it will continue to be overseen and controlled by that nonprofit.' OpenAI says that it made the decision 'after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California.' OpenAI was founded as a nonprofit in 2015, but it converted to a 'capped-profit' in 2019 and was trying to restructure once more into a for-profit. When it transitioned to a capped-profit, OpenAI retained its nonprofit wing, which currently has a controlling stake in the organization's corporate arm. OpenAI had...
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