Waterfall
Who owns OpenAI? Is it Microsoft? The Wall Street Journal has a good breakdown:
OpenAI and Microsoft are facing off in a high-stakes negotiation over an unprecedented question: How should a nearly $14 billion investment in a nonprofit translate to equity in a for-profit company?
The startup behind ChatGPT is transitioning from a nonprofit organization to a for-profit corporation after it recently closed a funding round valuing it at $157 billion. Determining how to distribute equity when it becomes a for-profit is one of the biggest challenges it faces.
As OpenAI’s biggest investor by far, Microsoft could end up owning ...
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