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OpenAI plans to become a Public Benefit Corporation in 2025

engadget.com — December 27, 2024 at 05:01 PM UTC

OpenAI announced plans to convert its for-profit arm into a Public Benefit Corporation (PBC) in 2025. This change aims to balance stakeholder interests while allowing OpenAI to raise capital more effectively, similar to competitors like Anthropic and xAI. The nonprofit division will retain a stake in the for-profit unit but will lose direct oversight. The for-profit arm will manage operations, while the nonprofit will focus on charitable efforts in health care, education, and science. OpenAI's for-profit division could be valued at $150 billion. However, the company faces challenges, including legal issues with Elon Musk and opposition from Meta, which has urged regulators to block the conversion.

With a significance score of 5.2, this news ranks in the top 2% of today's 17973 analyzed articles.

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Timeline:

[4.5]

OpenAI announces new for-profit structure to enhance funding for AI development (brecorder.com)

74d 10h

[5.0]

OpenAI plans transition to Public Benefit Corporation to boost funding for AI development (businesstoday.in)

76d 4h

[4.1]

OpenAI plans transition to public benefit corporation to attract investment and support charity (ndtv.com)

76d 5h

[5.3]

OpenAI announces new for-profit structure to boost investment in AI development (thehindu.com)

76d 10h

[4.3]

OpenAI plans transition to public benefit corporation to attract investors (scmp.com)

76d 11h

[4.4]

OpenAI plans transition to public benefit corporation to boost investment and social goals (sg.news.yahoo.com)

76d 18h

[5.1]

OpenAI plans shift to for-profit structure in 2025 to attract investment (theguardian.com)

76d 19h

[4.6]

OpenAI plans transition to public benefit corporation to attract investment (hindustantimes.com)

76d 22h

[4.6]

OpenAI plans transition to for-profit public benefit corporation (thepeninsulaqatar.com)

76d 22h

[4.0]

OpenAI outlines for-profit plan for 2025 and seeks additional capital (nypost.com)

76d 22h

[4.6]

OpenAI transitions to for-profit model to enhance funding and stakeholder alignment (gizmodo.com)

76d 23h

[5.2]

OpenAI plans to become a Public Benefit Corporation in 2025 (engadget.com)

76d 23h

[4.5]

OpenAI announces transition to Public Benefit Corporation to enhance funding and operations (sea.mashable.com)

76d 23h

[5.1]

OpenAI announces plans to transition to a public benefit corporation (techcrunch.com)

77d 0h

[5.1]

OpenAI plans transition to for-profit model by 2025 (theverge.com)

77d 0h

[4.6]

OpenAI plans restructuring to separate for-profit and non-profit operations to raise more capital (qz.com)

77d 0h

[4.5]

OpenAI details for-profit transition plans as Microsoft negotiations continue and Musk files lawsuit (investors.com)

77d 0h

[4.8]

OpenAI plans shift to public benefit corporation to attract investment (sg.news.yahoo.com)

77d 1h

[4.5]

OpenAI explores transition to public benefit corporation to attract investors (livemint.com)

77d 1h

[5.3]

OpenAI plans shift to public benefit corporation to attract investment (reuters.com)

77d 1h

[5.1]

OpenAI plans for-profit transition to attract more capital by 2025 (cnbc.com)

77d 2h

[4.5]

OpenAI plans transition to for-profit structure to enhance sustainability (businessinsider.com)

77d 2h