OpenAI and Microsoft sign agreement to restructure OpenAI into a public benefit corporation with Microsoft retaining 27% stake — non-profit ‘Open AI Foundation’ to oversee ‘Open AI PBC’

OpenAI is restructuring into a public benefit corporation with Microsoft retaining a 27% stake in the new “OpenAI PBC,” worth roughly $135 billion. OpenAI PBC will still be overseen by the non-profit OpenAI Inc., soon to be renamed OpenAI Foundation. Both companies are intertwined till at least 2032 with major cloud computing contracts.