After almost a year of negotiations, OpenAI announced Tuesday that it has completed its restructure to a public benefit corporation, with a separate nonprofit Foundation focussed on “health and curing diseases” and “technical solutions to AI resilience” holding a $130 billion stake in the for-profit arm—just shy of the $135 billion stake that Microsoft received, which it said represented 27% ownership.

Founded in 2015 as a nonprofit, rather than a for-profit company, OpenAI promised to develop AI “in the way that is most likely to benefit humanity.” With billions of dollars in investments from Microsoft, Japanese bank SoftBank, and chipmaker Nvidia, however, OpenAI faced increasing corporate pressure to separate its business operations from the nonprofit, which placed a cap on the pro

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