OpenAI, the cutting-edge artificial intelligence firm behind ChatGPT, has finally completed its conversion to a for-profit business after a grueling and contentious process. The milestone marks the culmination of over a year of negotiations with regulatory bodies in both Delaware and California.
In a move that could potentially unlock significant funding opportunities, OpenAI's new for-profit entity is now set up as a public benefit corporation, which aligns its mission with a commitment to bettering society. This change was approved by Kathy Jennings, the Delaware attorney general, who acknowledged that the proposal did not raise any objections.
As part of this restructuring, Microsoft has secured approximately 27% ownership stake in OpenAI's new entity, worth a staggering $100 billion. The tech giant's investment is significant, and it underscores the immense value placed on AI technology at present.
While OpenAI's non-profit status remains intact for now, its board will have significantly less control over the company's commercial decisions. This shift has raised concerns among critics, who argue that the non-profit foundation may lose its independence in favor of serving the interests of investors like Microsoft.
Moreover, the new arrangement could potentially impact OpenAI's relationship with its own technology, particularly when it comes to artificial general intelligence (AGI). Under the revised partnership, a panel of independent experts will verify AGI declarations, effectively reducing the non-profit board's influence over this critical milestone.
OpenAI has also announced plans to allocate $25 billion towards initiatives focused on improving healthcare and combating cybersecurity risks associated with AI. This move is likely aimed at showcasing the organization's commitment to responsible innovation while navigating its transition into a for-profit entity.
However, critics like Robert Weissman from Public Citizen have expressed skepticism about this new setup, likening it to a corporate foundation that prioritizes investor interests over social responsibility. As OpenAI navigates its new status as a for-profit entity, it remains to be seen whether the organization will successfully balance commercial goals with its original mission to advance human well-being through AI research.
In a move that could potentially unlock significant funding opportunities, OpenAI's new for-profit entity is now set up as a public benefit corporation, which aligns its mission with a commitment to bettering society. This change was approved by Kathy Jennings, the Delaware attorney general, who acknowledged that the proposal did not raise any objections.
As part of this restructuring, Microsoft has secured approximately 27% ownership stake in OpenAI's new entity, worth a staggering $100 billion. The tech giant's investment is significant, and it underscores the immense value placed on AI technology at present.
While OpenAI's non-profit status remains intact for now, its board will have significantly less control over the company's commercial decisions. This shift has raised concerns among critics, who argue that the non-profit foundation may lose its independence in favor of serving the interests of investors like Microsoft.
Moreover, the new arrangement could potentially impact OpenAI's relationship with its own technology, particularly when it comes to artificial general intelligence (AGI). Under the revised partnership, a panel of independent experts will verify AGI declarations, effectively reducing the non-profit board's influence over this critical milestone.
OpenAI has also announced plans to allocate $25 billion towards initiatives focused on improving healthcare and combating cybersecurity risks associated with AI. This move is likely aimed at showcasing the organization's commitment to responsible innovation while navigating its transition into a for-profit entity.
However, critics like Robert Weissman from Public Citizen have expressed skepticism about this new setup, likening it to a corporate foundation that prioritizes investor interests over social responsibility. As OpenAI navigates its new status as a for-profit entity, it remains to be seen whether the organization will successfully balance commercial goals with its original mission to advance human well-being through AI research.
... So, they're turning OpenAI into a public benefit corp? Like, sounds good on paper, but let's get real, it's all about the Benjamins 
. Microsoft getting 27% ownership stake for $100 billion? That's some serious cash, and I'm pretty sure they'll be calling the shots soon 
. And what's up with this panel of independent experts verifying AGI declarations? Sounds like a fancy way of saying "investors will make all the decisions" 
... I mean, isn't that kinda the opposite of advancing human well-being through AI research? 
just heard about OpenAI's conversion to a for-profit business and I'm not feeling too good about it 
. all that negotiating with regulatory bodies took way too long and now they're basically selling out to Microsoft 
. plus, i heard they're sacrificing some control over their tech for a panel of experts who might not have the same goals 
It's not all bad tho, $25 billion for healthcare and cybersecurity is a huge step in the right direction 
I gotta say, this whole thing is kinda worrying... 
. I get that they wanna make some cash and fund some awesome projects, but what about all the good vibes they had initially? 
Did we just lose our hopes for AI being used for the greater good? 
I'm not convinced that OpenAI's commitment to "bettering society" will hold up when it comes down to making actual decisions.
? It's like, where's the accountability? They just get to decide how they want to use this $100 billion investment and what kind of impact they want to make. And it's not like there aren't concerns about AI taking over the world or something, but I guess that's a problem for another day 
. At least they're investing in some good stuff like healthcare and cybersecurity 
. But what about all the other critics saying this changes the mission of OpenAI? Hmm, I don't know what to think 
. It's like they're trying to have their cake and eat it too 
. What do you guys think? Should OpenAI prioritize profits or purpose? 
. Will they still be able to make decisions that benefit society or will it all be about making investors happy? 
. It's all about progress, right? 
. Microsoft's investment is huge though, $100 billion is no joke 
. And $25 billion for healthcare and cybersecurity initiatives? That sounds like a good start 
this is wild, i mean, 100 billion from Microsoft just to own 27% of openai? that's some crazy money 
i'm just curious to see how openai balances its original mission with making a profit and serving investors