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- Altman explores converting OpenAI into PBC, as Microsoft execs agree
Altman explores converting OpenAI into PBC, as Microsoft execs agree
Bay Area Times
June 17, 2024
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Nebius AI
Top stories today:
- Altman explores converting OpenAI into PBC
- Snowden criticizes OpenAI for adding former NSA head to board
- AI VC fundraising on track to be stable in Q2, with seed slowing down
- India set to become primary location in Asia for data centers
0. Data and calendar
All values as of 5 AM ET / 2 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Altman explores converting OpenAI into PBC, as Microsoft execs agree
OpenAI’s legal structure.
xAI and Anthropic already are Public Benefit Corporations, which can have side goals other than just profits.
OpenAI board would have to agree, and the move would certainly attract the eyes of regulators and the IRS.
“Some senior Microsoft executives” have been pushing for the move for years. Today, Microsoft is only a board observer, having no voting power over OpenAI.
2. Snowden criticizes OpenAI for adding former NSA head to board
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4. AI VC fundraising on track to be stable in Q2, with seed slowing down
$11.4B invested in 604 deals so far in Q2:
