Explained: OpenAI and Microsoft’s new agreement allowing major restructuring

After months of back and forth and suspected tensions between Microsoft and OpenAI, the two companies said they have signed a non-binding deal for new relationship terms. With this new deal, OpenAI can restructure itself into a for-profit company, marking a new phase for the ChatGPT maker.

Here’s what you need to know.

What’s the deal?

OpenAI and Microsoft have signed a non-binding memorandum of understanding (MOU) to revise the terms of their partnership.

OpenAI can now restructure its operating arm into a public benefit corporation with the nonprofit…