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Delaware AG Engages Investment Bank to Scrutinize OpenAI’s Financial Structure
Delaware AG Engages Investment Bank to Scrutinize OpenAI’s Financial Structure
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Delaware’s Attorney General has enlisted an investment bank to assess OpenAI’s financial reorganization, focusing on whether its nonprofit parent receives fair value under the new Public Benefit Corporation (PBC) model. The MOVE reflects growing scrutiny over whether OpenAI’s soaring valuation and investor interest might compromise its founding mission of developing AI for humanity’s benefit.
Critics, including academics and Elon Musk, have raised concerns that the PBC shift prioritizes profit over purpose. OpenAI maintains the restructuring balances fundraising needs with public accountability, but Delaware’s jurisdictional authority allows for a thorough review of potential impacts on its nonprofit status.
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