By Bret Taylor, Chair of the OpenAI Board of Directors
OpenAI has completed its recapitalization, simplifying its corporate structure. The nonprofit remains in control of the for-profit, and now has a direct path to major resources before AGI arrives.
The nonprofit, now called the OpenAI Foundation, holds equity in the for-profit currently valued at approximately $130 billion, making it one of the best resourced philanthropic organizations ever. The recapitalization also grants the Foundation additional ownership as OpenAI’s for-profit reaches a valuation milestone.
The OpenAI mission—ensuring that AGI benefits all of humanity—will be advanced through both the business and the Foundation. The more OpenAI succeeds as a company, the more the non-profit’s equity stake will be worth, which the non-profit will use to fund its philanthropic work.
The OpenAI Foundation will initially focus on a $25B commitment across two areas:
- Health and curing diseases. The OpenAI Foundation will fund work to accelerate health breakthroughs so everyone can benefit from faster diagnostics, better treatments, and cures. This will start with activities like the creation of open-sourced and responsibly built frontier health datasets, and funding for scientists.
- Technical solutions to AI resilience. Just as the internet required a comprehensive cybersecurity ecosystem—protecting power grids, hospitals, banks, governments, companies, and individuals—we now need a parallel resilience layer for AI. The OpenAI Foundation will devote resources to support practical technical solutions for AI resilience, which is about maximizing AI’s benefits and minimizing its risks.
Mission at the center
OpenAI was founded in 2015 as a nonprofit; its mission is to ensure artificial general intelligence benefits all of humanity. Today, OpenAI remains a nonprofit dedicated to that same mission.
The OpenAI Foundation controls the for-profit business, which was established in 2019, keeping our mission at the center. The for-profit is now a public benefit corporation, called OpenAI Group PBC—with the same mission as the OpenAI Foundation—which ensures the company's mission and commercial success advance together. Learn more about our structure.
This recapitalization maintains the strongest representation of mission-focused governance in the industry today. This recapitalization was completed after nearly a year of engaging in constructive dialogue with the offices of the Attorneys General of California and Delaware. We made several changes as a result of those discussions and we believe OpenAI—and as a result, the public we serve—are better for them.
The path forward
The OpenAI Foundation and OpenAI Group will work in concert to advance solutions to hard problems and opportunities posed by AI progress. This includes making intelligence a tool that everyone can benefit from, building safe and aligned systems, turbocharging scientific discovery, and strengthening global cooperation and resilience.
We believe that the world’s most powerful technology must be developed in a way that reflects the world’s collective interests. The close of our recapitalization gives us the ability to keep pushing the frontier of AI, and an updated corporate structure to ensure progress serves everyone.
