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OpenAI on Thursday said its nonprofit parent will continue to have oversight over the company and will own an equity stake of more than $100 billion.
The artificial intelligence startup, recently valued at $500 billion, said this structure will make the nonprofit “one of the most well-resourced philanthropic organizations in the world,” and will allow the company to continue to raise capital.
OpenAI also announced it has signed a non-binding memorandum of understanding with Microsoft
, which outlines the next phase of their partnership. Microsoft has invested over $13 billion in OpenAI, backing the company as early as 2019, three years before the launch of of the chatbot ChatGPT.
