OpenAI aims to become public benefit corp.
“As we enter 2025, we will have to become more than a lab and a startup — we have to become an enduring company,” the blog post said.
OpenAI’s goal, when it was founded as a non-profit company (the “lab”) in 2015, was to “advance digital intelligence in the way that is most likely to benefit humanity as a whole, unconstrained by a need to generate financial return.” It began life with promises of $1 billion in donations in cash or kind from individual and corporate donors — including Elon Musk, Peter Thiel, Sam Altman, Greg Brockman, Amazon Web Services, Infosys, and YC Research — although it has received less than $140 million of that in cash, and upwards of $100 million in compute credits and discounts from hyperscalers, according to its website.
In 2019, realizing that the computing capacity necessary to build an artificial generation intelligence would cost closer to $10 billion, OpenAI created a for-profit business (the “startup”) under its control, capping investors’ share of profits and keeping the rest to fund its research.
