OpenAI has appointed billionaire investor Adebayo Ogunlesi, one of Wall Street’s most influential dealmakers, to its board as it transitions into a for-profit company to stay ahead in the fiercely competitive artificial intelligence market.
Thank you for reading this post, don't forget to subscribe!Ogunlesi, co-founder of Global Infrastructure Partners (GIP), is celebrated for his expertise in guiding top global companies through pivotal moments. His appointment coincides with OpenAI’s corporate restructuring, aimed at accelerating growth and bolstering its position against rivals.
Last year, Ogunlesi sold GIP to BlackRock for $12.5 billion and recently launched a $30 billion fund, backed by Microsoft, Nvidia, and Abu Dhabi, to develop AI-related infrastructure. His addition to OpenAI’s board follows the reinstatement of Sam Altman as CEO in November 2023 after a brief ousting.
Altman praised Ogunlesi’s “exceptional track record” and ability to navigate complex commercial challenges. Ogunlesi himself expressed enthusiasm for advancing OpenAI’s mission, emphasizing the importance of infrastructure investments in realizing AI’s full potential.
OpenAI, recently valued at $150 billion, is converting into a public benefit corporation. This move has faced criticism from rivals, including Elon Musk, who has called for legal action against the restructuring. Despite the controversy, OpenAI remains focused on scaling its operations while maintaining its commitment to societal betterment.
Ogunlesi will join notable board members such as Dr. Sue Desmond-Hellman, Nicole Seligman, and Fidji Simo.
