Sept 11 (Reuters) -

Microsoft ( MSFT ) and OpenAI said on Thursday they have

signed a non-binding deal for new terms of their relationship

that would allow OpenAI to move forward with its plan to

restructure itself into a for-profit company.

The two firms did not offer further details on the new

commercial arrangements but said they were working to finalize

the terms of a definitive agreement.

OpenAI said its existing nonprofit entity would control

a public benefit corporation through a $100 billion stake in

that corporation and holding authority over its decisions,

according to a memo from Bret Taylor, the chairman of OpenAI's

current nonprofit board.