00:00It's Benzinga, bringing Wall Street to Main Street.
00:02OpenAI appointed NewBank CEO David Velez and BNY CEO Robin Vince to the boards of its
00:09non-profit and for-profit entities as the company moves closer to a potential initial public
00:14offering. OpenAI said the executives will provide perspectives on how technology can reshape
00:19industries and drive economic growth. The company, valued at more than $850 billion,
00:25confidentially filed an IPO prospectus with the SEC in June, but has not disclosed a timeline.
00:32OpenAI completed a recapitalization in October that gave the OpenAI Foundation a controlling
00:37stake in OpenAI Group PBC. The non-profit's equity was valued at about $130 billion at the time.
00:45Taylor said Velez and Vince's experience using technology to transform financial services
00:50will support OpenAI's global growth and mission to make AI broadly beneficial.
00:55For all things money, visit Benzinga.com.
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