OpenAI Appoints Nubank CEO David Vélez And BNY CEO Robin Vince To Boards

According to CNBC, OpenAI appointed David Vélez, CEO of Nubank, and Robin Vince, CEO of BNY, to its nonprofit and for-profit boards of directors as it moves closer to a prospective initial public offering. The company said the two executives will bring complementary perspectives on how technology can reshape industries and support economic growth. OpenAI said the appointments come as it is valued at more than $850 billion and has confidentially filed its prospectus with the U.S. Securities and Exchange Commission in June, though it has not disclosed a timeline for a public debut. The company completed a recapitalization in October that established the OpenAI Foundation as a nonprofit with a controlling stake in the for-profit OpenAI Group PBC, and it said the nonprofit’s equity was valued at around $130 billion at the time.