OpenAI,Microsoft extend pact, ChatGPT maker plans for-profit shift
OpenAI and Microsoft struck a deal to deepen their partnership, paving the way for OpenAI's nonprofit to convert into a Public Benefit Corporation. The new PBC, valued at over $100 billion, would let OpenAI raise capital while keeping mission oversight. Microsoft, already a $13 billion backer, gained nearly 2% as investors welcomed clarity, though regulatory scrutiny over the plan persists.