OpenAI abandons restructuring as a for-profit company and continues to be controlled by a non-profit organization

ChainCatcher news, according to the official announcement, OpenAI has announced a restructuring, abandoning its previous plan to reorganize as a for-profit company, and will continue to be controlled by a non-profit organization, while its for-profit entity will transform into a "Public Benefit Corporation" (PBC).

OpenAI was founded in 2015 as a non-profit organization but transitioned to a limited-profit organization in 2019 and attempted to transition again to a for-profit organization. After the transition to limited-profit, OpenAI retained its non-profit division, which currently holds a controlling stake in OpenAI's corporate division. OpenAI board chair Bret Taylor and CEO Sam Altman stated that this move aims to ensure that AI development benefits all of humanity while enhancing the ability to mobilize funds to meet the enormous computational resources required in the era of AGI.