OpenAI grants $40.5M to various nonprofits through new foundation setup

OpenAI plans to provide $40.5 million to more than 200 nonprofit organizations before the year concludes, following an open application period in September. This marks the inaugural round of donations since the company restructured its nonprofit arm as the OpenAI Foundation in October.

The organization has pledged $25 billion to support health research and initiatives aimed at enhancing AI safety and mitigating potential risks associated with these technologies. The timeline for distributing these funds has not been specified.

Earlier this year, in July, OpenAI committed to issuing $50 million in grants based on recommendations from an advisory commission that guided how the company should pursue its mission of developing safe artificial intelligence for the benefit of humanity. An additional $9.5 million in grants will be awarded in the upcoming months according to guidance from its board of directors.

The grants are unrestricted, allowing recipients to allocate funds as they see fit. OpenAI encouraged applicants to propose projects that promote AI literacy, strengthen civic engagement, or create economic opportunities. Interestingly, most of the selected organizations are not tech-focused; they include journalism groups, dance ensembles, and local community initiatives.

Founded as a nonprofit in 2015, OpenAI later established a for-profit subsidiary that has become one of the world's most valuable startups. In October, the company formalized its transition into a public benefit corporation while keeping the nonprofit board of directors as the ultimate decision-making authority.

For this initial funding round, OpenAI received over 3,000 applications, which were reviewed by a panel of advisors overseeing the process.

Author: Natalie Monroe