"" Microsoft and OpenAI have signed a non-binding memorandum of understanding for the next phase of our partnership," the companies said in a document described as a joint statement, continuing, "Together, we remain focused on delivering the best AI tools for everyone, grounded in our shared commitment to safety.""
""However, in a separate statement on its website, OpenAI said that it plans to turn some of its business activities into a public benefit corporation - a type of company that operates for profit but also considers the public good in its decisions - and enable the non-profit to share in its success.""
""The key change OpenAI announced Thursday is that it plans for its nonprofit organization to own an equity stake in the future public benefit corporation that, it says, will be worth at least $100 billion. That's a big number, but the last investment round in OpenAI's for-profit company valued it at over $300 billion, so the nonprofit's stake would be barely a third of that. Neverthless,""
Microsoft and OpenAI signed a non-binding memorandum of understanding to negotiate the next phase of their partnership and stated a shared commitment to delivering AI tools grounded in safety. Microsoft declined to provide further details about the agreement. OpenAI plans to convert some business activities into a public benefit corporation and enable its nonprofit entity to receive an equity stake intended to be worth at least $100 billion. OpenAI's corporate structure includes multiple entities (OpenAI, Inc., OpenAI GP LLC, OpenAI LP, OpenAI LLC, OpenAI Holdings LLC, and OpenAI Global, LLC), making ownership and valuation relationships complex relative to its recent valuation above $300 billion.
Read at Computerworld
Unable to calculate read time
Collection
[
|
...
]