OpenAI plans transition to Public Benefit Corporation to boost funding for AI development

OpenAI has announced plans to transition from a nonprofit to a Public Benefit Corporation (PBC). This change will allow its for-profit arm to manage operations while the nonprofit focuses on charitable initiatives in healthcare, education, and science. The restructuring aims to raise more capital to support the development of artificial general intelligence (AGI). OpenAI's board noted that significant investments from major companies highlight the need for increased funding. The decision has faced opposition, including a motion from Elon Musk to block the transition. Critics worry that this shift may undermine OpenAI's original mission as a nonprofit dedicated to AI for the public good.