OpenAI says it has new for-profit business structure, adjusts partnership with Microsoft

OpenAI said it has reorganized its ownership structure and converted its business into a public benefit corporation. A crucial regulator, Delaware Attorney General Kathy Jennings said in a statement she did not object to the changes. The new structure could allow the ChatGPT maker to raise money and profit more easily from its AI technology while remaining under nonprofit control. On Tuesday, the company also announced a new agreement with Microsoft, giving the tech giant a roughly 27% stake in OpenAI's for-profit corporation. For over a year, OpenAI's proposed changes have drawn scrutiny from regulators and advocates concerned about AI's societal impacts.