OpenAI completes recapitalisation into a public benefit corporation controlled by the OpenAI Foundation

OpenAI

OpenAI completed its recapitalisation: the nonprofit, renamed the OpenAI Foundation, keeps control of the for-profit company and holds equity valued at about $130B. The Foundation made an initial $25B commitment to health research and technical work on AI resilience.

• Foundation holds 26% equity, Microsoft ~27% (~$135B), employees and others the remainder; Foundation has special voting rights to appoint all board directors.
• Completed after nearly a year of engagement with California and Delaware Attorneys General, both of whom announced support.
• Foundation positioned as one of the best-resourced philanthropic organizations ever created.