Share on LinkedInShare on LinkedIn

ARTICLE · 04 NOVEMBER 2025

CA And DE AGs Secure Safety And Oversight Commitments, Will Not Oppose OpenAI Recapitalization

Delaware AG Kathy Jennings announced that her office has issued a Statement of No Objection to the proposed corporate recapitalization of the artificial intelligence company, OpenAI, Inc.

United StatesTechnology
Cozen O'Connor
Cozen O'Connor
  • Delaware AG Kathy Jennings announced that her office has issued a Statement of No Objection to the proposed corporate recapitalization of the artificial intelligence company, OpenAI, Inc., a Delaware nonprofit corporation headquartered in California.
  • Following OpenAI's creation of a public benefit corporation (PBC), AG Jennings reviewed the plan to ensure that (1) OpenAI's public safety mission is not diluted by the PBC's profit-driven interests; (2) the existing nonprofit corporation (NFP) maintains control over the PBC; and (3) the NFP is treated fairly in the recapitalization. She worked closely with California AG Rob Bonta and his staff during the review process.
  • As disclosed in her Statement of No Objection, AG Jennings secured key commitments from OpenAI, including: the NFP's exclusive authority to appoint and remove PBC board members; the requirement that the PBC's mission mirrors the NFP's mission and the PBC prioritizes public safety and security over

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from