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Artificial Intelligence

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Sam Mendoza

shared a link post in group #Artificial Intelligence

After months of prep and negotiation, and against the wishes of co-founder Elon Musk, the #Artificial Intelligence giant reorganized itself into a for-profit corporation within a larger non-profit foundation. The non-profit OpenAI Foundation maintains legal control over the public benefit corporation — OpenAI Group — holds on to a significant stake, and appoints the board of directors, though the Group can still acquire companies or raise new funds without authorization. As for early OpenAI backers Microsoft, they hang on to a 27% stake (valued presently at $135 billion), while extending their IP rights over OpenAI’s models through 2032. (That infamous AGI clause remains in play: if OpenAI believes it has reached this milestone, they’ll submit the model to an independent expert panel to verify their findings.) 🤑 News of the agreement pushed Microsoft’s valuation over $4 trillion! https://techcrunch.com/20..
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techcrunch.com

OpenAI completes its for-profit recapitalization | TechCrunch

OpenAI has completed its recapitalization, splitting the AI lab into a for-profit corporation nested inside a non-profit foundation.

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