California Attorney General Rob Bonta has announced that his office will not oppose OpenAI’s recapitalization plan following an extensive investigation and negotiations with the company. In a statement released from Oakland, Bonta explained the reasoning behind the decision.
“Over the last year and a half, my office has conducted a robust investigation into OpenAI’s initial plan to restructure, followed by its revised plan to recapitalize. This included extensive negotiations with OpenAI, and we secured concessions that ensure charitable assets are used for their intended purpose, safety will be prioritized, as well as a commitment that OpenAI will remain right here in California. With these important concessions in place, we will not be in court opposing OpenAI’s recapitalization plan. And now, we look to the future. California companies can grow and thrive AND protect our people at the same time. As the Attorney General, my top priority is, and will always be, protecting our kids. We will be keeping a close eye on OpenAI to ensure ongoing adherence to its charitable mission and the protection of the safety of all Californians,” said Bonta.
The memorandum of understanding between the California Department of Justice and OpenAI outlines these agreements.
