The San Francisco-based firm originally started as a non-profit, and that organization will maintain control of OpenAI’s business unit and remain a large shareholder. The for-profit part will become a public benefit corporation. (The Logic)

Talking point: OpenAI has raised US$63.9 billion to date from investors, per PitchBook data, but will likely need many times that sum to achieve its goal of human-beating artificial general intelligence. To get that money, the firm argued it needed to become a for-profit company that could give investors equity stakes. But AI figures like Elon Musk and Geoffrey Hinton have sued or written letters to block OpenAI’s conversion, arguing the current structure with non-profit control ensures the ChatGPT-maker will pay more attention to AI safety concerns. OpenAI CEO Sam Altman said the board opted to keep that setup after discussions with “civic leaders” and the attorneys general of California and Delaware.