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[–]gwern 0 points1 point  (2 children)

Background: https://en.wikipedia.org/wiki/Fort_Point,_San_Francisco

Looking at the map, they seem to want quite a few buildings. The expansion plans must be something alright:

To that end, OpenAI and KRC are proposing to fund 100 percent of the capital cost of the rehabilitation of Fort Winfield Scott. The result will be a fully functional campus of high-quality, rehabilitated historic buildings, as well as two new iconic and complementary buildings including the new transit center, that will be an asset to the Presidio Trust for generations into the future. While the details of the future lease between the Presidio Trust and KRC, and the future sublease between KRC and OpenAI, have yet to be negotiated, the Presidio Trust will own the newly constructed, permanent improvements at Fort Scott, which will be valued in the hundreds of millions of dollars.

As the headquarters of OpenAI, the rehabilitated Fort Scott campus will house several hundred full-time employees, dozens of visiting researchers, interns, and scholars, and thousands of annual visitors to OpenAI’s public demonstrations, networking and educational events, and academic conferences.

...When OpenAI was founded in late 2015, its co-founders, Sam Altman and Elon Musk, committed to provide up to $1 billion in funding as needed. In the 2.5 years since it was founded, OpenAI has raised nearly $100 million from private donors and foundations such as Open Philanthropy. OpenAI’s board and donors will commit to support both a capital contribution and a long-term sublease of the campus. OpenAI will request a legally-binding pledge from a group of donors to guarantee its portion of the capital contribution and sublease obligations.

...This document include OpenAI’s 2016 financials. Due to the organization’s significant growth in 2017, OpenAI’s finances became increasingly complex and the organization was granted a 6-month extension to complete and file the 2017 Form 990. As this proposal proceeds to the next stage, OpenAI fully expects to be able to provide 3 years of audited financials by the time final project submissions are due, assuming that is in Q2 2019 or later.

(I guess OA is planning to seriously tap into donors because their first Form 990 certainly doesn't show that kind of financial capitalization.)

[–]WikiTextBot 0 points1 point  (0 children)

Fort Point, San Francisco

Fort Point is a masonry seacoast fortification located at the southern side of the Golden Gate at the entrance to San Francisco Bay. This fort was completed just before the American Civil War by the United States Army, to defend San Francisco Bay against hostile warships. The fort is now protected as Fort Point National Historic Site, a United States National Historic Site administered by the National Park Service as a unit of the Golden Gate National Recreation Area.

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[–]Phaedrus0230[S] 0 points1 point  (0 children)

Yeah, i forget where I found it exactly, but they stated somewhere in there that they would get legally binding letters from those that have promised funding verbally or on social media or what have you.

It's also a partnership with a realty corporation, so they'll be doing a bunch of the funding as well.

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