OpenAI transitions to a more commercial business model

OpenAI transitions to a more commercial business model

user avatar

by Eve Adams

2 years ago


OpenAI, known for its artificial intelligence developments and owner of ChatGPT, plans to change its status to a commercial entity. According to The Information, the company may become a Benefit Corporation («commercial public benefit corporation»). Sources report that OpenAI CEO Sam Altman discussed this with several shareholders.

Originally, OpenAI was established as a non-profit organization with the goal of advancing artificial intelligence for the benefit of all humanity. However, to attract investments and experts in the technology field, the company transitioned to a hybrid management model, combining non-profit and commercial elements.

A Benefit Corporation, or B Corporation, is a type of commercial organization that is obligated to pursue not only profit but also social and environmental goals. These companies have legal obligations to report their impact on society and the environment.

The main difference between OpenAI's current status and a Benefit Corporation is that OpenAI, as a hybrid organization, combines the characteristics of a non-profit organization with a social mission and a commercial company seeking growth and profit. In contrast, a Benefit Corporation is a fully commercial structure with additional social obligations.

Transitioning to the new status will allow the company to conduct an IPO, and the current board of directors of the hybrid organization will lose control over the company. Experts believe that OpenAI is seeking a balance to expand its business opportunities.

OpenAI's main product, ChatGPT, is a generative language model capable of engaging in conversations on various topics. The application not only allows for text messaging but also voice communication through recognition and speech synthesis functions.

Launched in November 2022, ChatGPT quickly gained recognition. The model can answer follow-up questions, acknowledge its mistakes, challenge incorrect premises, and decline inappropriate requests.

Today, ChatGPT can also process images, generate captions, classifications, and analyses. The model can handle texts of over 25,000 words, enabling it to create long-form content, conduct lengthy conversations, and analyze documents.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.