Recently, OpenAI officially announced its highly anticipated monetization restructuring plan. This plan signifies a shift in OpenAI's long-standing structure, which has been controlled by a non-profit organization.
According to the new scheme, OpenAI's for-profit subsidiary, OpenAI Global, LLC, will be re-registered as a Public Benefit Corporation in Delaware. Meanwhile, the existing non-profit holding entity, OpenAI, Inc., will continue to hold a significant stake in the new for-profit company, with the specific proportion determined by an independent financial advisor's valuation.
The main goal of this restructuring is to advance the mission of general artificial intelligence. OpenAI states that the required funding far exceeds expectations. Investors also hope to achieve returns through traditional equity, thus necessitating a simplification of the equity structure to reduce complexity.
According to Delaware's General Corporation Law, the purpose of establishing a Public Benefit Corporation is to generate public benefit and operate in a responsible and sustainable manner. This law requires the board to balance the interests of shareholders, the interests of third parties affected by the company's actions, and the public benefit that the company committed to when it was registered.
However, OpenAI's restructuring plan is not without challenges. Co-founder Elon Musk has filed a lawsuit attempting to block the plan, accusing OpenAI of prioritizing profits over public benefit. Additionally, Meta has pressured the California Attorney General to try to prevent OpenAI's transformation.
