Peter Thiel-backed firm building ‘safe’ AI turns itself into a for-profit enterprise

Peter Thiel-backed firm building ‘safe’ AI turns itself into a for-profit enterprise

A research group backed by US serial entrepreneur and investor Peter Thiel to create “safe” artificial intelligence has turned itself into a for-profit enterprise.

OpenAI has said that it wants to increase its ability to raise capital and talent, and has therefore created a “capped” hybrid structure that will limit investment from its backers.

In a statement, the group said: “We’ll need to invest billions of dollars in upcoming years into large-scale cloud compute, attracting and retaining talented people, and building AI supercomputers.”

The new limited partnership will be offered a “capped return” if the group succeeds at its mission to create AI systems that will benefit humanity, while also…

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