OpenAI announced on Tuesday that Adebayo Ogunlesi, a senior managing director at BlackRock, has joined its board of directors.
This appointment comes as OpenAI continues its transition towards a for-profit structure.
Mr Ogunlesi, a Nigerian lawyer, investment banker and a founding partner of Global Infrastructure Partners (GIP), an infrastructure investment firm acquired by BlackRock last year, brings a wealth of experience to the table.
“The rapid advancement and development of AI offers a unique opportunity to build a better future,” stated Mr Ogunlesi in OpenAI’s announcement. “As part of this, thoughtful strategies and investment in infrastructure will be key to unlocking AI’s full potential and delivering its benefits responsibly. I’m excited to contribute to this effort and look forward to being a part of the OpenAI Board.”
His addition to the board marks another significant step in OpenAI’s transformation into a for-profit entity.
The board has undergone substantial changes since late 2023, notably following the unexpected ouster and subsequent reinstatement of CEO Sam Altman.
Following the events of November 2023, former Salesforce co-CEO Bret Taylor assumed the role of OpenAI’s chairman, while former Treasury Secretary Larry Summers joined the board.
In the past year, several new members have been welcomed, including Instacart CEO Fidji Simo and Dr. Sue Desmond-Hellmann, former CEO of the Bill & Melinda Gates Foundation.
Originally founded as a nonprofit in 2015, OpenAI announced in late December its intention to establish a public benefit corporation (PBC) to oversee its commercial operations.
This move aims to alleviate some of its nonprofit restrictions, allowing it to operate more effectively as a high-growth startup.
In 2022, OpenAI achieved a valuation of $157 billion as it continued to release updated large language models and innovative tools, spearheading the generative artificial intelligence boom.
By transitioning into a Delaware PBC with ordinary shares of stock, OpenAI seeks to pursue commercial operations while maintaining a nonprofit arm dedicated to charitable endeavors in healthcare, education, and science.
However, Elon Musk, one of OpenAI’s co-founders, is currently engaged in legal action to prevent OpenAI’s full conversion into a for-profit business.
In addition to his new role at OpenAI, Adebayo Ogunlesi serves on the boards of BlackRock, Topgolf Callaway Brands, Kosmos Energy Holdings, and Terminal Investment Ltd.