[Microsoft and OpenAI Reach Non-Binding Agreement to Allow OpenAI Restructuring] BlockBeats News, September 12, Microsoft (MSFT.O) and OpenAI announced on Thursday that they have signed a non-binding agreement regarding new terms of their relationship. This agreement will allow OpenAI to advance its restructuring plan to become a for-profit company. The two companies did not provide further details about the new commercial arrangements but stated that they are working to finalize the terms of the definitive agreement. A memo from OpenAI's current nonprofit board chairman, Brett Taylor, shows that OpenAI stated its existing nonprofit parent company will control the company by holding $100 billion worth of shares in a public benefit corporation and will have decision-making authority over the company's decisions. (Jin10)