03:29 PM EDT, 05/05/2025 (MT Newswires) -- Microsoft ( MSFT ) -backed OpenAI, which was founded as a nonprofit, said Monday its board decided that it will continue to be overseen and controlled by the nonprofit.

The for-profit LLC, which has been under the nonprofit since 2019, will convert to a public benefit corporation company structure to ensure it operates in the best interests of shareholders and the company's vision, according to statement.

The nonprofit will also be a significant shareholder of the PBC, enabling it to access resources for the development and deployments of artificial general intelligence services that benefit people, per the release.

The decision about the company structure was made after consultations with civic leaders and engaging with the offices of the Attorneys General of California and Delaware, the company said.

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