OpenAI restructure to give nonprofit over $100 billion stake

OpenAI said it’s closer to converting into a more traditional for-profit company — nearing resolution of painful negotiations with top shareholder Microsoft Corp. and outlining terms of at least $100 billion in equity for its nonprofit arm.

Planned changes will give the existing OpenAI nonprofit control over a new public benefit corporation, Chairman Bret Taylor said in a statement Thursday. And it would give the nonprofit an equity stake that would make it “one of the most well-resourced philanthropic organisations in the world,” he…