OpenAI grants $40.5M to various nonprofits through new foundation framework
- Last update: 2 days ago
- 2 min read
- 499 Views
- BUSINESS
OpenAI is preparing to distribute $40.5 million to more than 200 nonprofit organizations by the end of the year, following an open application call launched in September. This marks the first series of grants issued since the organization behind ChatGPT restructured and adopted the name OpenAI Foundation in October.
The organization has pledged a total of $25 billion to support health-related research and initiatives aimed at strengthening AI resilience a term it uses to describe efforts that reduce potential risks associated with advanced technologies. OpenAI has not yet outlined a timeline for the release of these funds.
In July, OpenAI committed $50 million in grantmaking after receiving recommendations from an advisory commission assembled to guide the company on advancing safe artificial intelligence for societal benefit. An additional $9.5 million in funding is expected to be announced soon, based on guidance from the board of directors.
All grants are unrestricted, allowing nonprofits to allocate the funds at their discretion. Still, applicants were encouraged to present initiatives that promote AI education, enhance civic engagement, or expand economic opportunity. Many selected organizations are not focused on technology and include cultural institutions, journalism groups, and community-based organizations.
Originally founded as a nonprofit in 2015, OpenAI later established a for-profit arm that has since become one of the most prominent startups globally. After years of shifting away from its nonprofit identity to attract investment, the company finalized an agreement with regulators in October to transition into a public benefit corporation, while its nonprofit board continues to serve as the top governing authority.
OpenAI reported that over 3,000 applications were submitted for the initial funding round and noted that a panel of advisors oversaw the evaluation process.
Author: Caleb Jennings
Share
OpenAI grants millions to non-profit organizations through new foundation format
1 days ago 2 min read BUSINESS
OpenAI grants $40.5M to various nonprofits through new foundation setup
2 days ago 2 min read BUSINESS
Study reveals AI companies' safety practices do not meet global standards
2 days ago 2 min read BUSINESS
Study reveals AI companies' safety practices do not meet international standards
2 days ago 2 min read BUSINESS
ChatGPT's meteoric rise: 800 million users in just 3 years, generating 29,000 prompts a second
4 days ago 3 min read SCIENCE
ChatGPT's meteoric rise: 800 million users in just 3 years, generating 29,000 prompts a second
4 days ago 3 min read SCIENCE
AI toys have arrived. Proceed with caution.
4 days ago 4 min read SCIENCE