(Reuters) -Microsoft and OpenAI announced a restructuring deal on Tuesday that frees the ChatGPT maker to move away from its nonprofit roots and likely go public so it can finance CEO Sam Altman's ambitious plans to develop data centers and cutting-edge technology.
The deal refashions the $500 billion company as a public benefit corporation that is controlled by a nonprofit with a stake in OpenAI's financial success. In a livestream broadcast, Altman said an initial public offering was the most likely path for the company's future, given how much money is needed to train and build AI systems like the one that supports ChatGPT.
