OpenAI completes restructuring into a public benefit corporation
OpenAI completed its recapitalization: the non-profit, renamed the OpenAI Foundation, controls the for-profit OpenAI Group PBC, and a new definitive agreement gave Microsoft roughly a 27% stake.
Key facts
- Announced 28 October 2025
- Non-profit renamed OpenAI Foundation; holds equity in OpenAI Group PBC
- Microsoft's stake valued at ~$135B, about 27% on an as-converted diluted basis
- Microsoft's IP rights extended through 2032; AGI declaration to be verified by an expert panel
What happened
After a year of negotiations with Microsoft and state attorneys general, OpenAI finalized its new corporate structure.
Why it matters
Removed a key obstacle to OpenAI raising capital at unprecedented scale while keeping nominal non-profit control.
Changelog
- 2026-09-29: created
Related events
Sources (2)
- officialBuilt to benefit everyone (OpenAI)
- officialThe next chapter of the Microsoft–OpenAI partnership (Microsoft)
id: 2025-10-28-openai-recapitalization · updated 2026-09-29 · open in the interactive timeline