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 stake is exclusively in OpenAI's for-profit arm.
- The deal clears the way for OpenAI to become a publicly traded company.
Microsoft and OpenAI announced a deal Tuesday that allows the maker of ChatGPT and the Atlas browser to restructure.
Author's summary: Microsoft takes 27% stake in OpenAI.
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