After SpaceX used Texas law to craft an oversight structure that’s highly protective of management, some shareholder proponents are urging OpenAI and Anthropic to stay in Delaware once they go public.
Elon Musk’s Space Exploration Technologies Corp. and fellow AI companies Anthropic and OpenAI have formed a $3.6 trillion mega-IPO pipeline. Shareholders will be watching whether the latter two companies adopt standard governance practices, ideally in a state with strong shareholder protections, or follow SpaceX’s lead, said Michael Garland, the New York City Office of the Comptroller’s responsible investment head.
Avoiding Texas, which recently enacted laws allowing ...