Microsoft the biggest holdout on OpenAI restructuring plan, Bloomberg reports

Microsoft (MSFT), which has invested $13.75B in OpenAI, remains the biggest holdout among investors as the maker of ChatGPT seeks to restructure, Bloomberg’s Dina Bass and Shirin Ghaffary report. OpenAI is moving forward with an effort to restructure its for-profit division as a public benefit corporation, but changed its plans so that the overall business will instead remain under the control of its nonprofit. Microsoft is still actively negotiating details of OpenAI’s proposal, and its approval will be key to the restructuring plan, according to several people familiar with the matter. In a statement, OpenAI said: “We continue to work closely with Microsoft, and look forward to finalizing the details of this recapitalization in the near future.”