Explainer-Why OpenAI plans transition to public benefit corporation

By Jaspreet Singh and Rishi Kant

Technology
Saturday, 28 Dec 2024
8:00 AM MYT

FILE PHOTO: OpenAI logo is seen in this illustration taken, March 11, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it raise capital and stay ahead in the costly AI race against companies such as Google.

OpenAI's new structure aims to potentially make a more investor-friendly corporation, while maintaining a mission of funding a related charity.

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