Microsoft and OpenAI announce the "next phase" of their partnership

OpenAI has announced two key steps that pave the way for its long-planned reorganization. The company will hand over control to a nonprofit foundation, giving it a stake of at least $100 billion, and has reached a preliminary agreement with Microsoft to settle financial matters, The New York Times reports.

The goal of the changes is to transition from a non-profit management structure to a public benefit corporation format, which will allow it to attract investments from a wide range of investors and potentially go public. One of the main obstacles was the investment of Microsoft, which from 2019 to 2023 invested more than $ 13 billion and received about 49% of future OpenAI revenues. The new memorandum provides for a revision of the terms of the 2019 commercial agreement, in particular the distribution of technology and revenues.

The clause restricting Microsoft's access to OpenAI's most powerful developments after the official achievement of AGI remains in effect, but its wording has been changed. The parties did not disclose other details.

The reorganization comes amid mounting pressure from regulators, competitors and experts who warn that OpenAI is moving away from its original mission of developing AI safely. The transition is being scrutinized by the attorneys general of California and Delaware, and Elon Musk has been a public critic of the company.

According to Chairman of the Board of Directors Brett Taylor, the non-profit organization that runs OpenAI will become one of the most wealthy philanthropic structures in the world, owning more than 20% of the shares of the renewed company.