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OpenAI completes its recapitalization into a nonprofit-controlled public benefit corp
OpenAI completed its restructuring: the for-profit became OpenAI Group PBC, still controlled by the nonprofit, which was renamed the OpenAI Foundation. The foundation holds equity OpenAI valued at about $130 billion, and a new definitive agreement with Microsoft was announced at the same time. For practitioners, it settled long-running questions about OpenAI's governance and its capacity to raise capital for compute.
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