OpenAI on Tuesday (28/10) announced the completion of its recapitalization, which split the artificial intelligence company into a for-profit corporation under the auspices of a non-profit foundation.
According to a report by TechCrunch on Tuesday (28/10), under the new structure, the OpenAI Foundation will have legal control over the public company OpenAI Group, which can raise funds or acquire other companies without legal restrictions.
The Foundation will hold a significant stake in OpenAI Group and have the authority to appoint members of the board of directors.
"We believe that the world's most powerful technologies should be developed in a way that reflects the world's collective interests," said OpenAI Chairman Bret Taylor in a blog post .
"The closure of our recapitalization process gives us the ability to continue pushing the boundaries of AI and a revamped corporate structure to ensure its advancements benefit everyone," he said.
Under the new structure, the OpenAI Foundation will hold 26 percent of the for-profit company's shares, with the additional right to acquire more shares if the company's growth continues.
Microsoft as an initial investor will own about 27 percent of the shares worth about 135 billion US dollars and about 47 percent of the remaining shares will be owned by investors and employees.
In a statement on its blog, Microsoft said the deal also extends its intellectual property rights to OpenAI models until 2032.
If in the future OpenAI declares that it has achieved its long-term goal of achieving artificial general intelligence ( AGI ), the company will be required to undergo verification by an independent panel of experts.
