AI Pioneer OpenAI Welcomes Infrastructure Expert to Board of Directors
In a significant move, OpenAI has announced the appointment of Adebayo Ogunlesi, a seasoned infrastructure investing expert, to its board of directors. This development marks another crucial step in the company’s transformation into a for-profit entity.
Unlocking AI’s Full Potential
Ogunlesi, a founding partner of Global Infrastructure Partners, brings a wealth of experience to the table. Prior to his current role, he spent 23 years at Credit Suisse. “The rapid advancement of AI presents a unique opportunity to build a better future,” Ogunlesi stated. “Thoughtful strategies and investment in infrastructure will be key to unlocking AI’s full potential and delivering its benefits responsibly.”
A New Era for OpenAI
The addition of Ogunlesi to the board is part of a larger effort to revamp OpenAI’s leadership structure. The company has undergone significant changes since late 2023, including the reinstatement of CEO Sam Altman and the appointment of former Salesforce co-CEO Bret Taylor as chair. Other notable additions to the board include Larry Summers, a former Treasury secretary, Instacart CEO Fidji Simo, and Dr. Sue Desmond-Hellmann, former CEO of the Bill & Melinda Gates Foundation.
A Shift Towards Commercial Operations
OpenAI, founded as a nonprofit in 2015, announced plans to create a public benefit corporation to oversee commercial operations. This move will allow the company to function more like a high-growth startup, pursuing commercial opportunities while maintaining a separate nonprofit arm focused on charitable activities in healthcare, education, and science.
A Valuation of $157 Billion
Last year, OpenAI was valued at a staggering $157 billion, driven by the success of its large language models and new tools. The company’s transformation into a Delaware PBC will enable it to pursue commercial operations more aggressively, while still allowing its nonprofit arm to focus on charitable activities.
Challenges Ahead
However, OpenAI’s transition is not without its challenges. Co-founder Elon Musk is currently suing the company to prevent it from converting into a full for-profit business. Despite these obstacles, OpenAI remains committed to its mission of harnessing AI to build a better future. With Ogunlesi on board, the company is well-positioned to navigate the complex landscape of infrastructure investing and unlock the full potential of AI.
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