OpenAI completed its restructuring, transferring a $130 billion stake to the non-profit OpenAI Foundation

OpenAI has completed its recapitalization, simplifying its corporate structure. The parent non-profit organization retained control of the commercial part of the company and now has direct access to significant resources that it plans to spend on achieving artificial general intelligence (AGI), or “strong AI.”

The nonprofit, now renamed the OpenAI Foundation, owns a stake in a commercial entity now valued at about $130 billion, making it one of the most well-resourced philanthropic organizations in history. The fund retains control of the company through its corporate governance structure, even though Microsoft owns a larger stake (its stake is valued at $135 billion, or about 27% of the company). The corporation has invested more than $13 billion in OpenAI, supporting the company since 2019. The remaining 47% belongs to current and former employees of the company, as well as investors.

The OpenAI Foundation will focus on two main areas of development, which have an initial budget of $25 billion. First, health and disease control, the fund will fund work to accelerate breakthrough discoveries in medicine, including the creation of open datasets for healthcare and support for scientists. The second is technical solutions for AI sustainability. The company explains this by the need to increase the level of security of artificial intelligence.

The commercial part of the company became a public corporation called OpenAI Group PBC, sharing the goals of the OpenAI Foundation. The recapitalization was completed after nearly a year of constructive dialogue with the California and Delaware attorneys general's offices. OpenAI noted that “the more successful a company is as a business, the more the share of a non-profit organization that it will direct to charity will be worth.”

Earlier it became known that OpenAI ordered chips with a total capacity of 10 GW from Broadcom, which will cost the company $350–500 billion. This amount must be added to the already concluded $1 trillion in deals for the purchase of chips and data centers necessary to operate services like ChatGPT. In early October, OpenAI became the most valuable private company in the world: its value reached $500 billion.