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- OpenAI outlines new for-profit structure in bid to stay ahead in costly AI race
OpenAI outlines new for-profit structure in bid to stay ahead in costly AI race
Jacqueline Choi
January 13, 2025
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What's in this week's issue?
🏃 OpenAI outlines new for-profit structure in bid to stay ahead in costly AI race
🇨🇳 China’s ByteDance appears to be skirting US restrictions to buy Nvidia chips
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OpenAI last Friday outlined plans to revamp its structure, saying it would create a public benefit corporation to make it easier to “raise more capital than we’d imagined,” and remove the restrictions imposed on the startup by its current nonprofit parent.
The acknowledgement and detailed rationale behind its high-profile restructuring confirmed a Reuters report in September, which sparked debate among corporate watchdogs and tech moguls including Elon Musk.
At issue were the implications such a move might have on whether OpenAI would allocate its assets to the nonprofit arm fairly, and how the company would strike a balance between making a profit and generating social and public good as it develops AI.
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TikTok parent company ByteDance has big plans to buy Nvidia chips in 2025 — despite U.S. restrictions.
ByteDance plans to spend $7 billion on the chips in 2025, according to reporting from The Information, citing inside sources. If ByteDance follows through, it will become one of the world’s top owners of Nvidia chips, despite U.S. efforts to restrict Chinese companies from buying U.S. AI chips like these.
In 2022, the U.S. announced export restrictions on certain kinds of AI chips to countries, including China, where ByteDance is headquartered. These restrictions have gotten tighter multiple times since.
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