OpenAI Forms For-Profit Arm After Microsoft Partnership Shift

ChatGPT maker OpenAI announced on Oct. 28 that it completed a corporate restructuring deal with Microsoft, freeing up both companies to independently pursue the development of artificial general intelligence (AGI).OpenAI has formed a for-profit public benefit corporation named OpenAI Group PBC that will be controlled by the nonprofit OpenAI Foundation, Bret Taylor, chair of OpenAI’s board of directors, said in a blog post. OpenAI Foundation holds a $130 billion equity stake in the for-profit venture.