OpenAI announced Tuesday morning that it had completed a tumultuous corporate restructuring effort, simplifying a complex ownership web into a controlling nonprofit entity and a reimagined for-profit subsidiary.

The simplified structure will allow investors and corporate partners to more easily reap returns from their investments and pave the way to an envisioned public offering. The for-profit’s board will be appointed solely by the overarching nonprofit entity and will, for now, consist entirely of the nonprofit organization’s board members.

In a livestream session announcing the change Tuesday, OpenAI CEO Sam Altman said the for-profit entity “will be able to attract the resources we need for [our] gigantic infrastructure buildout to serve the research and product goals that we ha

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