OpenAI and Microsoft reach agreement paving way for $100 billion public benefit shift: Read joint statement

ChatGPT-maker OpenAI has announced that it has reached a nonbinding agreement with Microsoft, its largest investor, on a revised partnership that could allow the artificial intelligence startup to change its for-profit arm into a public benefit corporation (PBC). Issuing a joint statement via X, the company said “OpenAI and Microsoft have signed a non-binding memorandum of understanding (MOU) for the next phase of our partnership.” “We are actively working to finalize contractual terms in a definitive agreement. Together, we remain focused on delivering the best AI tools for everyone, grounded in our shared commitment to safety,” it added.

Nonprofit to retain control