OpenAI, a San Francisco-based non-profit Artificial Intelligence research organization, has launched a new for-profit company, OpenAI LP. This new company will be owned and controlled by the OpenAI’s board of directors and aimed to accelerate development toward the company’s goal of advancing AI and in due course creating safe AGI system (Artificial General Intelligence). OpenAI’s new for-profit platform also plans to cultivate and invest billions of dollars in the years ahead.
Other than that narrow AI is common today, which can forecast the possibility of outcomes or suggest content in a user Facebook News Feed, OpenAI defines Artificial General Intelligence as an extremely autonomous system able to outperform humans at most tasks. For the OpenAI LP, Chairman of OpenAI Sam Altman will serve as CEO, Cofounder Greg Brockman will be CTO, while Ilya Sutskever act as Chief scientist. The announcement came out days after Altman stepped down as president of Y Combinator to focus on work at OpenAI. Founded in 2015, the OpenAI was created as a non-profit organization to make sure AI benefits humanity with USD1 billion in donations from Elon Musk, LinkedIn co-founder Reid Hoffman, and YC Research. Investors for the OpenAI’s new company include Reid Hoffman’s charitable organization and Khosla Ventures.
According to the company, each limited partner investor deal will come with caps negotiated in advance, and returns for first investors will be capped at 100 times their investment. Excess returns will go to the coffers of the OpenAI. Currently, OpenAI LP has a large number of workforces nearly 100 employees.