OpenAI has completed its conversion to a for-profit entity, a move that could allow it to raise billions of dollars in investment and potentially clear the way for a stock market debut.
As part of the arrangement, OpenAI and Microsoft announced changes to their partnership that leave the tech giant with a 27% stake in the ChatGPT-maker.
The deal changes the relationship between the two companies, which first partnered in 2019, when OpenAI was a non-profit artificial intelligence (AI) research organisation.
Under the terms, Microsoft can now pursue artificial general intelligence – sometimes defined as AI that surpasses human intelligence – on its own or with other parties, the companies said.
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