OpenAI Restructures, Microsoft Takes For-Profit Stake
Microsoft will hold a 27% stake in OpenAI Group PBC, controlled by the nonprofit OpenAI Foundation.
The deal values OpenAI at $500 billion, allowing it to restructure into a public benefit corporation.
Microsoft's ownership stake is exclusively in OpenAI's for-profit arm.
The deal clears the way for OpenAI to become a publicly traded company.
Author's summary: Microsoft takes 27% stake in OpenAI.