Bert Taylor, Chairman of the Board of Directors of Openai, says the company stops trying to move from a non -profit entity to a non -profit entity after hearing the views of civil leaders and conducting constructive conversations with the offices of the California Prosecutor General and Prosecutor General. ” Both prosecutors oversee the non -profit status of Openai and could prevent its planned restructuring; The act that Ilan Musk, Meta and others have publicly protested.
Now, the Openai Nonprofit Board – the same delegation that shortly fired CEO Sam Altman – will continue to monitor its business subsidiary. This subsidiary changes from a profitable business with limited profit to a public benefit company (PBC) such as Anthropic and XAI. Previously, investors’ profits in the Openai business sector were limited to 100 times their initial capital, and the remaining profits returned to the non -profit sector.
Despite the new PBC subsidiary, a spokesman for the company said that investors and ordinary stock employees will have no restrictions on its value increase. He says the goal is that Openai will be able to attract more capital in the future. The billions of dollars that the company collected in the last two periods of attracting capital were subject to the successful elimination of this restriction on investor returns.
The current plan is that the nonprofit of the Openai controller receives a share of stocks (which will be determined later) in the PBC subsidiary. Sharp says the share will grow as the company increases. He explains that the nonprofit board will appoint the PBC board of directors, but will continue to run the company. According to Sharp, there is still no plans for Sam Altman, the CEO, who has never had a direct share in Openai, receives a stock in the company.
In a note to Openai’s staff, Altman tells Openai’s old structure that restricted return on “it seemed rational when there might be only a dominant effort for general artificial intelligence (AGI), but in a world with numerous large AGI companies, it was no longer logical.” He says Openai will need “hundreds of billions of dollars” to deliver its services to “all humanity” and may eventually need trillion dollars. “
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Source: The Verge
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