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OpenAI has completed a restructuring, with Microsoft holding a 27% stake becoming the primary shareholder.
BlockBeats News, October 28, OpenAI announced on Tuesday that it has completed a capital reorganization, establishing its structure as a non-profit organization holding a for-profit business. OpenAI stated that its non-profit entity is now renamed as the OpenAI Foundation and holds approximately 13 billion dollars in equity of its for-profit division.
OpenAI stated that its for-profit division has now become a public benefit corporation named OpenAI Group PBC. Under the new structure, the OpenAI Foundation will hold a 26% stake in the for-profit division, with current and former employees and investors collectively holding 47%.
Microsoft has been investing in OpenAI since 2019, with a total investment of over 13 billion dollars. Microsoft expressed support for this reorganization and stated that its investment in Open AI Group PBC is now valued at approximately 135 billion dollars, equivalent to a 27% stake in the company on a fully diluted basis.
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