On October 28, OpenAI announced it has completed its recapitalization, simplifying its corporate structure. The nonprofit, now called the OpenAI Foundation, holds equity in the for-profit currently valued at approximately $130B. We are honored to have served as financial advisor to the OpenAI Foundation.
Worked on LLM monetization strategy last year, and this recapitalization echoes a deeper shift in how AI foundations fund innovation without losing ethical ground. At a $130B valuation, OpenAI’s hybrid model is solidifying. Balancing nonprofit governance with for-profit velocity will now define its next phase. Curious how they’ll maintain alignment between research integrity and investor expectations. Goldman Sachs Investment Banking
Interesting Goldman Sachs Investment Banking
Rethinking the Economic Awareness Focused on Outward Appearance National Competitiveness Rankings: Top 10 Regionally Global Top 100 Companies by Asset Size Global Top 50 Organizations by Innovation Mindset This topic inevitably makes media headlines at the end of each year and the beginning of each new year. The reason for this sensitivity needs no explanation. It's the result of the world's obsession with outward appearances. Countries focus solely on power, corporations on output, organizations on size, and individuals on wealth. It's true that outward appearances are necessary to maintain a stable landscape. However, outward appearances should not blind us to new trends. Are you examining whether your outward appearance is in sync with the trends around you? Are you taking time to rest and build your foundation? Do you have the courage to exercise restraint in your power toward the world? There's nothing wrong with being number one and receiving positive feedback. We must take the lead, but we must also reflect on its meaning. We must re-establish absolute power, rather than relative power, and learn to share this power. The world is waiting for you, the powerful, to open your hearts and approach us!
Congrats — a landmark moment for OpenAI and a smart piece of governance engineering. Simplifying the structure while preserving the nonprofit’s mission alignment (with meaningful equity at a ~$130B valuation) sets a clear path for scale, partnership, and accountability. Kudos to Goldman Sachs team on advising the Foundation through a complex recap. 👏👏👏
While many banks still observe the rise of AI, Goldman Sachs helps build its foundation. Its role in OpenAI’s $130B recapitalization perfectly reflects the vision in the 2024 Annual Report — where #AI, #Automation and #CyberSecurity are pillars of #DigitalResilience and responsible innovation. Across #WallStreet and beyond, this alignment between technology, governance, and integrity shows that leadership in finance is no longer about speed it’s about direction and purpose. https://www.linkedin.com/posts/madaleno-sebasti%C3%A3o-64864126_ffiecbcm-tprm-banktechusa-activity-7385932839806119936-wM9N?utm_source=share&utm_medium=member_android&rcm=ACoAAAVu9lgBC4-t1IUH3PRzVvKgulCR82-yfug Will the future of banking belong to those who innovate faster — or to those who innovate with purpose?
Fantastic news, David.
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DGC, M&A, Strategic Transactions and Investments at OpenAI
3wThank you Jane Dunlevie Sam Britton and team! The whole GS team has been an incredible partner to the NFP, the board, the mission and all of us on the ground.