OpenAI Goes For-Profit and Microsoft Owns 27 Percent
OpenAI has announced the completion of its "recapitalization", resulting in a non-profit, the OpenAI Foundation, controlling a new for-profit business, OpenAI Group PBC.
Microsoft owns approximately 27 percent of OpenAI Group PBC, valued at around $135 billion based on OpenAI's recent valuation.
"We've signed a new definitive agreement with OpenAI that builds on our foundation, strengthens our partnership, and sets the stage for long-term success for both organizations"
The agreement maintains key elements of the partnership, including OpenAI as Microsoft's frontier model partner and exclusive IP rights and Azure API exclusivity until Artificial General Intelligence (AGI) is achieved.
Author's summary: OpenAI shifts to for-profit with Microsoft owning 27% stake.
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