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 and Microsoft have agreed to restructure OpenAI into a public benefit corporation (PBC), with Microsoft retaining a 27% stake valued at around $135 billion. The new entity, OpenAI Group PBC, will be overseen by the nonprofit OpenAI Foundation to streamline governance and accelerate progress towards Artificial General Intelligence (AGI). Microsoft will maintain exclusive access to OpenAI's models and products until 2032, unless AGI is achieved earlier. The restructuring aims to simplify operations and allow OpenAI more flexibility in pursuing partnerships and investments to advance its mission.