US EditionMicrosoft and OpenAI reach non-binding deal to allow OpenAI to restructure
OpenAI’s nonprofit parent retains control and a $100 billion equity stake as it shifts its for-profit arm to a public benefit corporation, with Microsoft investing over $13 billion.
- On September 11, Microsoft and OpenAI signed a non-binding deal for new partnership terms, allowing OpenAI to restructure into a for-profit company.
- Details about the new arrangements were not disclosed, but the companies are working on a definitive agreement.
- OpenAI aims for a more conventional corporate structure to raise capital and support AI development.
- Regulatory approvals from attorneys-general in California and Delaware are needed for OpenAI's new structure.
60 Articles
60 Articles
OpenAI and Microsoft continue their collaboration on Artificial Intelligence (IA) by announcing the next phase of their collaboration with the signing of a new non-binding Memorandum of Understanding (MOU), with which they intend to offer “the best AI tools for all.” The collaboration relationship between the two technologies has been complicated over the past few months, due to an increase in competition and ambitions on the part of ChatGPT's p…
Microsoft, OpenAI reach deal to allow OpenAI restructure
Microsoft and OpenAI said they have signed a non-binding deal for new relationship terms that would allow OpenAI to proceed to restructure itself into a for-profit company, marking a new phase of the most high-profile partnerships to fund the ChatGPT frenzy.
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