OpenAI nears for-profit conversion, $100B deal | JQJO

OpenAI is transitioning to a for-profit structure, nearing a deal with Microsoft. The agreement involves at least $100 billion in equity for OpenAI's nonprofit arm, which will retain control over a new public benefit corporation. This restructuring aims to establish the nonprofit as one of the world's most well-funded philanthropic organizations, according to Chairman Bret Taylor's statement.