# OpenAI

OpenAI is an Asset Manager based in San Francisco, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** openai.com

## Regulatory record

- **CRD number:** 318221
- **SEC file number:** 802-123080
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/318221

## About

OpenAI is a registered investment adviser with the SEC, based in San Francisco, CA, since 2021.

## Sectors

- AI/ML

## Offices

- Santa Monica, CA, United States

## Questions

### How is OpenAI structured, and who ultimately controls it?

OpenAI consists of the nonprofit OpenAI Foundation and the for-profit OpenAI Group, which operates as a public benefit corporation. The Foundation governs the Group, ensuring that the mission of building safe and beneficial AGI remains the primary obligation. This capped-profit structure means investors receive limited returns, and the nonprofit board retains ultimate authority over the organization's direction.

### Does OpenAI operate as a traditional venture-backed company or an investment firm?

OpenAI does not operate as a traditional investment firm that manages external capital across asset classes. It functions as an AI research and deployment company with a capped-profit subsidiary that has raised capital from investors. Its deployment activity centers on research, product commercialization, and compute infrastructure rather than portfolio management.

### Who runs investment decisions at OpenAI?

OpenAI does not disclose a dedicated investment team or CIO role. Capital allocation decisions around compute, research priorities, and strategic partnerships appear to be driven by the executive leadership team under the governance of the nonprofit board. The firm has not publicly detailed its internal investment committee structure or process.

### Does OpenAI's capped-profit model actually constrain investor behavior?

The capped-profit structure is legally codified: investors in the for-profit subsidiary receive returns up to a negotiated cap, and any excess flows to the nonprofit. This model is designed to prevent investor pressure from overriding the mission of developing AGI for broad benefit. Whether the constraint proves binding in practice depends on future valuation events and the board's willingness to enforce the structural firewall.

### What is OpenAI's relationship with Microsoft and other strategic investors?

Microsoft has made multiple large investments in OpenAI and provides the cloud compute infrastructure that powers its model training and deployment. The partnership integrates OpenAI's models into Microsoft products, creating a tightly coupled commercial and technical relationship. Other strategic investors participate through direct equity stakes and secondary market transactions, though OpenAI does not maintain a public, comprehensive investor list.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/openai

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