Microsoft and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion and giving it more freedom in its business operations.

The new agreement values Microsoft’s 27% stake at $135 billion and extends its IP rights through 2032, giving Microsoft investors “upside optionality.”

The new agreement with Microsoft gives the software giant a roughly 27% stake in OpenAI's new for-profit corporation while changing some parts of their close partnership.

OpenAI’s for-profit arm finalized its conversion into a public benefit corporation and reached a deal with Microsoft that will see the tech giant take a 27% stake.

OpenAI also said it signed a new agreement with longtime backer Microsoft that gives the software giant a roughly 27% stake in OpenAI's new for-profit company.

A new deal in pact between Microsoft and open air. It's a new stake in open air p, b, c. What does that mean? Well, joining us is Bloomberg Tech co-host Caroline Hyde. And, Caroline, with these new agreements,

OpenAI said it had completed a long-awaited restructuring, propelling its biggest external shareholder Microsoft to a $4tn market capitalisation. The ChatGPT creator, which was founded as a non-profit but has been racing to unlock new investment,