Latest news with #publicbenefitcorporation
CNA
5 days ago
- Business
- CNA
OpenAI launches $50 million fund to support nonprofits, community organizations
SAN FRANCISCO :ChatGPT maker OpenAI is launching a $50 million fund to support nonprofit and community organizations, the artificial intelligence company said on Friday. The fund is the first action following a recommendations report from the San Francisco-based company's nonprofit commission, which was formed in April to guide OpenAI's philanthropic efforts. OpenAI has been working to revamp its corporate structure, which it says is necessary in order to continue raising the massive amounts of capital needed to stay competitive in the AI arms race, a move it is trying to balance with its founding mission, as a nonprofit, to develop AI for the public good. Currently, its nonprofit arm owns and controls its for-profit arm, and OpenAI plans to convert the for-profit entity into a public benefit corporation, of which the nonprofit parent would become a shareholder. The nonprofit commission was established as part of OpenAI's efforts to show that it can remain true to its founding mission despite the corporate revamp. OpenAI said the fund will facilitate partnerships to implement AI in sectors such as education, economic opportunity, community organizing and healthcare. It will also back community-led research and innovation focused on using AI for public good. The nonprofit commission submitted its recommendations report Thursday, following interviews with over 500 nonprofits and community experts.
Geeky Gadgets
01-07-2025
- Business
- Geeky Gadgets
Commodore's Epic Comeback: How a Retro Tech Icon is Making Waves Again
What happens when a beloved tech brand from the past gets a second chance at life? For fans of retro computing, the news of the Commodore PC company's acquisition is nothing short of electrifying. Once a household name in the computing world, Commodore is remembered for iconic creations like the Commodore 64 and Amiga—machines that defined an era. Now, under the leadership of YouTuber-turned-CEO Perifractic and a team of seasoned industry veterans, the company is poised for a remarkable comeback. This isn't just a nostalgic nod to the past; it's a bold attempt to merge the charm of vintage computing with innovative technology, rekindling the spirit of innovation that once made Commodore a trailblazer. Retro Recipes explains how Commodore's revival is more than just a business move—it's a cultural moment for tech enthusiasts. From its mission to 'honor the past, innovate the future' to its unique structure as a public benefit corporation, the new Commodore is setting out to redefine what it means to balance legacy with modernity. With plans to launch retro-inspired yet forward-thinking products in 2024 and a leadership team deeply rooted in the brand's history, this comeback story is full of promise and challenges. Whether you're a longtime fan or a curious newcomer, Commodore's journey offers a fascinating glimpse into how a legacy brand can adapt to the demands of a new generation. Commodore Brand Revival Balancing Nostalgia with Modern Technology The guiding principle of Commodore's revival is encapsulated in its mission: 'honoring the past, innovating the future.' This vision aims to merge the timeless charm of retro computing with the demands of today's fast-paced technological environment. By drawing inspiration from the optimism and creativity of the late 1990s and early 2000s, Commodore plans to develop products that resonate with both long-time fans and a new generation of users. Future offerings will integrate the iconic aesthetics of devices like the Commodore 64 and Amiga with innovative hardware and software. These products are designed to strike a delicate balance between preserving the brand's legacy and addressing contemporary needs. The goal is to appeal to a broad audience, from nostalgic enthusiasts to tech-savvy consumers seeking functionality wrapped in retro-inspired design. By blending the old with the new, Commodore aims to create a product line that is both innovative and deeply rooted in its storied past. A Leadership Team with Deep Roots The revival of Commodore is being driven by a team of experienced professionals and passionate enthusiasts, many of whom have deep ties to the brand's history. Key figures include original Commodore engineers and executives such as Bill Herd, Michael Tomczyk, and David Pleasants. Their decades of experience and intimate knowledge of the brand's legacy provide invaluable insight into the company's direction. Actor Thomas Middleditch has also joined the team as Chief Creative Officer, bringing a fresh perspective and creative energy to the brand's vision. This leadership team is supported by a diverse group of technical advisers, designers, and public relations experts, all working in unison to ensure the success of this ambitious endeavor. Their combined expertise and dedication form the backbone of Commodore's resurgence, making sure that the brand's revival is both authentic and forward-thinking. Commodore PC Company Purchased Watch this video on YouTube. Browse through more resources below from our in-depth content covering more areas on Commodore PC. Community at the Core Central to Commodore's strategy is a strong emphasis on community engagement. The company recognizes the importance of involving enthusiasts and stakeholders in its journey, fostering a sense of ownership and collaboration. To achieve this, Commodore plans to launch initiatives such as licensing opportunities, crowdfunding campaigns, and direct input on product development. These efforts aim to create a two-way dialogue with the retro computing community, making sure that the products reflect the needs and desires of their most dedicated supporters. Beyond hardware, Commodore is also expanding into merchandise and game development. These offerings are designed to appeal to both nostalgic audiences and younger consumers, bridging the gap between generations. By actively incorporating community feedback into its development process, Commodore ensures that its products remain true to the brand's spirit while meeting the expectations of a diverse audience. Overcoming Challenges, Seizing Opportunities Reviving a brand as iconic as Commodore comes with its own set of challenges. The team must address skepticism from both the tech industry and the public while meeting high expectations for quality and innovation. Striking the right balance between nostalgia and forward-thinking design will be critical to sustaining the brand's relevance and expanding its appeal beyond its traditional Gen X audience. However, Commodore's structure as a public benefit corporation provides a unique advantage. This model prioritizes the preservation of retro computing and community interests alongside profitability, creating a sustainable foundation for growth. By aligning its business objectives with its mission, Commodore is well-positioned to navigate the complexities of its revival and seize opportunities for innovation. The Road Ahead The first wave of new Commodore products is set to launch in 2024, marking a significant milestone in the brand's revival. These offerings will showcase the company's commitment to blending retro aesthetics with modern functionality, appealing to a wide range of consumers. Continued collaboration with the retro computing community will remain a cornerstone of Commodore's strategy, making sure that its products resonate with both loyal fans and new audiences. This revival represents more than just a business initiative—it is a tribute to a beloved brand's legacy and a bold step toward its future. By combining the expertise of its leadership team, the passion of its community, and a commitment to innovative product development, Commodore is poised to reclaim its place as a leader in retro-inspired technology. Media Credit: Retro Recipes Filed Under: Technology News, Top News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Bloomberg
13-05-2025
- Business
- Bloomberg
SoftBank Backs OpenAI Reform Plan to Keep Nonprofit in Control
SoftBank Group Corp. supports OpenAI's latest plan to turn its for-profit division into a public benefit corporation, even if the overall business remains under the control of its nonprofit. 'The part that we care about is the for-profit business,' SoftBank Chief Financial Officer Yoshimitsu Goto told an earnings conference Tuesday. 'I don't see the overall direction as bad for us.'
New York Times
06-05-2025
- Business
- New York Times
The Stakes for OpenAI's Plan B
OpenAI backtracks OpenAI's decision to scale back its ambitious corporate reorganization has drawn lots of scrutiny, including what the plan means for artificial intelligence safety, potential profits for investors and an ongoing fight with Elon Musk. What's emerging is that in some ways, how OpenAI operates isn't changing much. But there are still plenty of questions about the future of the consequential A.I. developer. The latest: OpenAI announced a smaller-scale change to its famously complex structure. Remember that it was founded as a nonprofit. But in 2019, it set up a for-profit subsidiary to start raising money from investors to finance its eye-wateringly expensive A.I. research. Then last year, the company moved to turn itself into a for-profit entity in which the nonprofit held a stake but didn't have control. Now, OpenAI plans to turn its for-profit subsidiary into a public benefit corporation, which would still be controlled by the nonprofit, though the size of its stake remains undetermined. (Got all that?) Sam Altman, its C.E.O., said yon Monday that the revised plan still gives his start-up 'a more understandable structure to do the things that a company like us has to do.'
