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

Summary from the TLDR newsletter

Microsoft and OpenAI have reached a deal to extend their partnership. The agreement could ease OpenAI's path toward changes into a for-profit corporation. The companies have not disclosed the terms of the new contract but said that the current agreement was nonbinding. The agreement is a tentative win for OpenAI, which needed Microsoft's approval for its non-profit plan before it could be formally shared with state regulators. OpenAI told its venture-capital investors it would complete the restructure by the end of the year or risk losing out on $19 billion in funding.