Documents show OpenAI's long journey from nonprofit to $157B valued company
Back in 2016, the artificial intelligence maker OpenAI had just incorporated as a nonprofit and applied to the Internal Revenue Service for tax-exempt status
Back in 2016, a scientific research organization incorporated in Delaware and based in Mountain View, California, applied to be recognized as a tax-exempt charitable organization by the Internal Revenue Service.
Called OpenAI, the nonprofit told the IRS its goal was to “advance digital intelligence in the way that is most likely to benefit humanity as a whole, unconstrained by a need to generate financial return.”
Its assets included a $10 million loan from one of its four founding directors and now CEO, <a class=«zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE » data-testid=«prism-linkbase» href=«https://abcnews.go.com/Today,» its products which include text to image generators chatbots that can detect emotion and tktkt far exceed those technical thresholds.>Sam Altman
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The application, which nonprofits are required to disclose and which OpenAI provided to The Associated Press, offers a view back in time to the origins of the artificial intelligence giant that has since grown to include a for-profit subsidiary recently valued at $157 billion by investors.
It's one measure of the vast distance OpenAI — and the technology that it researches and develops — has traveled in under a decade.
In the application, OpenAI indicated it did not plan to enter into any joint ventures with for-profit organizations, which it has since done. It also said it did “not plan to play any role in developing commercial products or equipment,” and promised to make its research freely available to the public.
A spokesperson for OpenAI, Liz Bourgeois, said in an email that the
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