OpenAI said on Tuesday that senior managing director Adebayo Ogunlesi BlackRockis joining the startup’s board of directors, the latest announcement as the company moves toward a for-profit structure.

Ogunlesi is a founding partner of Global Infrastructure Partners, an infrastructure investment firm obtained BlackRock acquired the company last year for $12 billion. Before helping to found GIP in 2006, Ogunlesi spent 23 years at Credit Suisse.

“The rapid progress and development of artificial intelligence provide a unique opportunity to build a better future,” Ogunlesi said in OpenAI’s announcement on Tuesday. “As part of this, thoughtful strategic and infrastructure investments will be the key to unlocking AI’s full potential and The key to leveraging its strengths responsibly. I’m excited to contribute to this effort and look forward to serving on the OpenAI Board of Directors.”

For OpenAI, Ogunlesi’s addition to the board marks another step in its dramatic transformation into a for-profit company. The board has been almost completely revamped since late 2023, when CEO Sam Altman took over suddenly evicted before becoming Recovered quickly.

previous salesperson Co-CEO Bret Taylor served as chairman of Twitter before it was acquired Elon MuskIn November 2023, after Altman’s ordeal, he became the chairman of OpenAI. Former Treasury Secretary Larry Summers joined at the same time. Last year, the board of directors added several new faces include Instant shopping cart CEO Fidji Simo and Dr. Sue Desmond-Hellmann, former CEO of the Bill & Melinda Gates Foundation (now known as the Gates Foundation).

OpenAI, a non-profit organization founded in 2015, said in late December that it would create A public benefit corporation that oversees business operations, removing some of its nonprofit restrictions and allowing it to operate more like a high-growth startup.

Last year, OpenAI was valued at $157 billion After kicking off the generative AI craze in late 2022, it continues to roll out updated large-scale language models and new tools.

The company said its transformation into the People’s Bank of Delaware “by holding common stock” would allow it to conduct commercial operations while employing a separate employee for its nonprofit division and allow the division to operate in the health care, education and science sectors charity activities. December said.

Musk is one of the co-founders of OpenAI sue Trying to prevent OpenAI from turning into a fully for-profit enterprise.

Ogunlesi’s other board positions include BlackRock, Topgolf Callaway Brands, Kosmos Energy Holdings and Terminal Investment Ltd.

—CNBC’s Hayden Field contributed to this report.

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