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WASHINGTON, D.C. — ChatGPT-maker OpenAI laid out plans on Friday for a new corporate structure shifting away from control by a nonprofit an issue of contention for the artificial intelligence trailblazer.OpenAI was founded as a nonprofit in 2015 and has since switched to a "capped" for-profit enterprise allowing for a limited level of money making.But it has been seeking to become a for-profit public benefit corporation (PBC), which could attract more investment.In a blog post, the company said it plans to restructure as a PBC, which "requires the company to balance shareholder interests, stakeholder interests, and a public benefit interest in its decision-making.""It will enable us to raise the necessary capital with conventional terms like others in this space," OpenAI added.It said that it needs to raise more capital than imagined, citing the hundreds and billions of dollars that major firms are now putting into artificial intelligence development."Investors want to back us but, at this scale of capital, need conventional equity and less structural bespokeness," OpenAI said.Currently, its structure does not allow the board to directly consider the interests of those who would finance its mission.The structure also "does not enable the nonprofit to easily do more than control the for-profit," the company said.With the restructuring, the PBC will control OpenAI's operations and business.Its nonprofit arm will build up a team to pursue charitable initiatives in areas like health care.OpenAI is under high scrutiny as an artificial intelligence powerhouse, reaching a staggering $157 billion valuation in recent times.The company, led by Sam Altman, has become one of the most successful startups in Silicon Valley history propelled to headlines in 2022 when it released ChatGPT, its generative AI chatbot.But its corporate set-up imploded in late 2023 when the board fired Altman out-of-the-blue. Staff rebelled and Altman was eventually reinstated, while those involved in his ouster left the company.Alarmed by the situation, new investors have demanded that OpenAI become a more classic for-profit outfit within two years.Its restructuring efforts will likely face obstacles, with Elon Musk reportedly asking a US court to stop OpenAI from converting into a for-profit enterprise.

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02.01.25 04:16

by manilatimes.net

Consumer protection a priority for 2025 – DTI

THE Department of Trade and Industry (DTI) outlined its priorities for 2025, with emphasis on strengthening protective measures in the digital economy."The DTI is committed to creating more jobs and opportunities by promoting innovation and competitiveness in our key industries, and ensuring fair prices and consumer protection in the digital marketplace," Trade Secretary Cristina Roque said in a statement.As Filipinos become adept in using online platforms for daily purchases and availing of various services, DTI said it is undertaking steps to shield consumers from unfair practices, price manipulation and other threats in the rising digital economy.Roque likewise recognized efforts made to advance several economic programs aimed at empowering Filipinos and boosting local industries."From helping small businesses access digital tools and financing, to promoting consumer protection and fair trade practices, to attracting international investments and supporting MSME development, we have worked tirelessly to empower the Filipino people," Roque said.Recognizing the value of foreign investments, Roque said DTI is aiming for a higher investment target in 2025, focusing on renewable energy, infrastructure, technology and digital services.DTI's attached agency, the Board of Investments, said it is targeting to register P1.75 trillion worth of investments this year, or 8 percent higher than its milestone achievement of P1.62 trillion in 2024, its highest in 57 years.Roque underscored the role of collaboration between government agencies and businesses to navigate the challenges of 2025. "We are confident this will be another year of growth, innovation and shared success," she said.

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