OpenAI Completes For-Profit Shift
OpenAI is giving Microsoft Corp. a 27% ownership stake as part of a restructuring plan that took nearly a year to negotiate.
The new for-profit unit will be a public benefit corporation called OpenAI Group PBC.
Under the revised pact, Microsoft will get a stake in OpenAI worth about US$135 billion, the companies said in a statement.
Microsoft will receive a 27% stake in OpenAI as part of the restructuring plan.
Author's summary: OpenAI gives Microsoft 27% stake in for-profit shift.
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