MICROSOFT, OPENAI TRUCE CLEARS HURDLE IN PATH TO FOR-PROFIT CONVERSION

Summary from the TLDR AI newsletter

Microsoft and OpenAI will extend their partnership. The move could help OpenAI move towards becoming a for-profit corporation. OpenAI plans to create a new for-profit company in which Microsoft and OpenAI will each initially receive a roughly 30% stake. The rest will go to employees and investors. It plans to keep the nonprofit's control over the new for-profit and endow it with a stake valued at more than $100 billion.