Market Data 
- OpenAI confirmed it is working on a new company structure.
- Its current for-profit arm has been governed by a nonprofit board.
- OpenAI said its existing for-profit arm would become a public benefit corporation with ordinary shares of stock.
OpenAI has detailed its plans for a new corporate structure that would separate its business from being controlled by its nonprofit board.
In a blog post shared by the company on social media on Friday, the company said its board was considering “how to best structure OpenAI to advance the mission of ensuring AGI benefits all of humanity have been.”
“Our plan is to transform our existing for-profit into a Delaware Public Benefit Corporation (PBC) with ordinary shares of stock and the OpenAI mission as its public benefit interest,” OpenAI wrote.
“The PBC is a structure used by many others that requires the company to balance shareholder interests, stakeholder interests, and a public benefit interest in its decisionmaking. It will enable us to raise the necessary capital with conventional terms like others in this space.”
This structure aims to generate profit while also benefiting the public interest. The nonprofit arm would take shares in the public benefit corporation, it added.
OpenAI said it was planning to make the change to its structure “in order to best support the mission of ensuring artificial general intelligence benefits all of humanity.”
“As we enter 2025, we will have to become more than a lab and a startup — we have to become an enduring company,” it added.
This is a developing story…
