OpenAI has completed its long-planned 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 longstanding partnership that leave the tech giant with a 27% stake in the ChatGPT-maker.
The deal changes the nature of the relationship between the two companies, which first partnered in 2019, when OpenAI was a non-profit artificial intelligence (AI) research organization.
Under the terms, Microsoft can now independently pursue artificial general intelligence - sometimes defined as AI that surpasses human intelligence - on its own or in partnership with other parties, the companies said.
OpenAI also said it was convening an expert panel that will verify any declaration by the company that it has achieved artificial general intelligence.
