OpenAI Completes For-Profit Shift
OpenAI is giving Microsoft Corp. a 27% ownership stake as part of a restructuring plan.
The new for-profit unit will be a public benefit corporation called OpenAI Group PBC.
Microsoft will get a stake in OpenAI worth about $135 billion, the companies said in a statement.
OpenAI is giving its long-time backer Microsoft Corp. a 27% ownership stake as part of a restructuring plan that took nearly a year to negotiate.
This move removes a major uncertainty for both companies and clears the path for the ChatGPT maker to become a for-profit business.
Author's summary: OpenAI gives Microsoft 27% stake.
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