Microsoft entered into a non-binding agreement with OpenAI to allow OpenAI reorganization

Microsoft and OpenAI indicated on Thursday that a non-binding agreement had been signed on the new terms of their relationship, which would allow OpenAI to advance its reorganization plan into a profit-making company. Two companies did not provide more details on the new commercial arrangements, but indicated that they were working to finalize the terms of the final agreement. According to a memorandum from Brent Taylor, the current Chair of the non-profit board of directors of OpenAI, OpenAI stated that its existing non-profit parent company would control the company by holding a $100 billion equity interest in a pro bono company and have decision-making power over the company. (Grunting)