The AI company plans to transform its profitable unit into a public benefit corporation
OpenAI, the AI (artificial intelligence) company that manages ChatGPT, announced on Thursday (Dec 26, 2024) changes to its corporate structure from 2025. It stated that it plans to transform its profitable unit into a PBC (Public Benefit Corporation), acronym in English for public benefit corporation.
“PBC is a framework used by many other companies that requires the organization to balance the interests of shareholders, stakeholders and public benefit in its decision-making”said in a statement. Here is it (PDF – 72 kB, in English).
The goal of the initiative is to balance funding needs with the company’s mission to ensure that artificial intelligence “benefit all humanity”. The profitable part will be responsible for all OpenAI operations and businesses.
The startup was founded in 2015 as a non-profit research laboratory. Currently, it operates as a non-profit and for-profit organization.
In the statement, the company also stated that it plans to make its unit unprofitable “more sustainable”. The party will receive shares in the new PBC. It will also hire leaders and employees to work on charitable initiatives, such as projects in health, education and science.
“Our plan will result in one of the best-resourced nonprofits in history”these.
