💨 Abstract

OpenAI is transitioning its for-profit arm into a Delaware public benefit corporation (PBC), aiming to balance societal interests with shareholder value. PBCs are legally required to pursue public benefits, including social and environmental goals. This structure allows OpenAI to raise capital while maintaining its charitable mission. The new organization will have a non-profit arm that owns shares in the for-profit, which will fund the charitable initiatives.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖