TechFlow news, October 28: OpenAI announced on Tuesday that it has completed a capital restructuring, establishing its structure as a non-profit organization overseeing a for-profit business. OpenAI stated that its non-profit entity has been renamed the OpenAI Foundation and holds approximately $130 billion in equity in its for-profit division. OpenAI said its for-profit arm is now a public benefit corporation named OpenAI Group PBC. Under the new structure, the OpenAI Foundation will hold 26% of the shares in the for-profit division, while current and former employees and investors collectively hold 47%. Microsoft, which has invested in OpenAI since 2019 with a total investment exceeding $13 billion, expressed support for the restructuring and stated that its investment in OpenAI Group PBC is now valued at approximately $135 billion, equivalent to 27% of the company's diluted shares. In a blog post, OpenAI wrote: "The more successful OpenAI becomes as a company, the higher the equity value held by the non-profit, and this value will be used to fund its public mission." (Jinshi)
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