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> The nonprofit, OpenAI Inc., is the sole controlling shareholder of OpenAI LP. OpenAI LP, despite being a for-profit company, retains a formal fiduciary respon
by dmix 4y ago
> The nonprofit, OpenAI Inc., is the sole controlling shareholder of OpenAI LP. OpenAI LP, despite being a for-profit company, retains a formal fiduciary responsibility to OpenAI Inc.'s nonprofit charter. A majority of OpenAI Inc.'s board is barred from having financial stakes in OpenAI LP. In addition, minority members with a stake in OpenAI LP are barred from certain votes due to conflict of interest.
> The company then distributed equity to its employees and partnered with Microsoft, announcing an investment package of $1 billion into the company. OpenAI also announced its intention to commercially license its technologies. OpenAI plans to spend the $1 billion "within five years, and possibly much faster". Altman has stated that even a billion dollars may turn out to be insufficient, and that the lab may ultimately need "more capital than any non-profit has ever raised" to achieve artificial general intelligence.
Otherwise it sounds like Greg Brockman is the main guy of the for profit business?