OpenAI completes for-profit restructuring and grants Microsoft a 27% stake in the company

Core Insights - OpenAI has completed its for-profit recapitalization, converting its for-profit arm into the OpenAI Group Public Benefit Corporation, which remains under the control of the nonprofit foundation [1][4] - Microsoft has acquired a 27% stake in OpenAI, valued at approximately $135 billion, and will maintain access to OpenAI's technology, including any AGI models verified by an independent panel, until 2032 [2][3] - The agreement has lifted previous capital restrictions and ended Microsoft's exclusive rights to OpenAI's cloud services, although OpenAI has committed to purchasing an additional $250 billion in Azure services [3] Regulatory Developments - OpenAI has cleared a significant regulatory hurdle with the Delaware Attorney General's office issuing a "statement of no objection" to the recapitalization plan [4] - California Attorney General Rob Bonta confirmed that his office would not oppose OpenAI's recapitalization, following a thorough investigation and securing concessions to ensure charitable assets are used appropriately [5] Corporate Statements - OpenAI's chair, Bret Taylor, indicated that the recapitalization was achieved after nearly a year of constructive dialogue with the attorneys general of California and Delaware, leading to several changes in the plan [6]