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 has been at the forefront of the rapidly expanding artificial intelligence industry for years, with ChatGPT largely responsible for ushering in this new era of technology. Microsoft was an early believer in the company, investing $1 billion back in 2019 in exchange for becoming OpenAI’s exclusive cloud partner and gaining the right to commercialize its models through Azure. Today, that agreement is changing — marking what could be a seismic shift in the AI landscape.

OpenAI and Microsoft have…