Microsoft signs new agreement with OpenAI to promote restructuring plan

According to Shenchao TechFlow, on September 12, Microsoft and OpenAI announced the signing of a non-binding agreement to allow OpenAI to advance its restructuring plan and become a for-profit company. The companies did not provide details of the new business arrangement but said they were working to finalize the terms of the final agreement. OpenAI's nonprofit parent company will control the company by holding $100 billion in shares in a public welfare company and have the right to make decisions, according to a memo by Brett Taylor, the current nonprofit chairman of OpenAI's nonprofit board.