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 US$135 billion.
Removing a major uncertainty for both companies and clearing the path for the ChatGPT maker to become a for-profit business.
Author's summary: OpenAI gives Microsoft 27% stake in for-profit shift.
- OpenAI Group PBC is the new public benefit corporation.
- Microsoft's stake is worth about US$135 billion.
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