OpenAI completes shareholding reform; non-profit entity renamed.

OpenAI has completed a capital restructuring, paving the way for its IPO. The non-profit entity has been renamed the OpenAI Foundation, which controls 26% of the for-profit entity, currently valued at approximately $130 billion. Employees and investors hold 47% of the shares, while Microsoft holds 32.5%. OpenAI also agreed to purchase $25 million worth of Microsoft Azure cloud services, causing Microsoft's stock price to rise by as much as 3.5%.