OpenAi’s restructuring plans open the door to a possible exit to the future, but any decision in this regard would depend on the mood of stock markets, as well as on the preparation of the company, the financial director, Sarah Friar, said Wednesday.
Openai, in which Microsoft invested more than 13,000 million dollars, presented in December its plans to convert its profit for profit into a public benefit corporation, a structure designed to balance the profitability of shareholders with social objectives, unlike non -profit organizations, which focus exclusively on the common good.
The creator of ChatgPT reduced the plan earlier this month so that the non -profit matrix continued to control the PBC and become an important shareholder, allowing at the same time that its profitable subsidiary would raise more capital to stay up to date in the AI race.
“A PBC takes us to an event that allows an IPO … if and when we want,” said Friar at the Dublin Technology Summit. “No one tweeted in this room that Sarah Friar has just mentioned something about Openai’s IPO,” he added. “I didn’t say it. I said it could happen.”
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Openai will wait to see stability in the markets for OPV
When asked what is needed to OpenAI opt for a public sales offer (OPV), Friar said that any company that considers an OPV requires two things: that the company is prepared and that the markets are also.
“You can introduce yourself on the altar with all the desire, and if the market is not ready, you are not lucky,” he said. “That is why you have to build a company that is sustainable and safe, regardless of the situation of stock markets and how open the window of opportunity is.”
To be a company that quotes in the stock market, “a certain sense of predictability is definitely needed,” added Friar.
“The market will tolerate a certain degree of unpredictability. Especially when growth is high … but the market does not like.”
With Reuters information
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