Microsoft Said to Be Key Holdout for OpenAI Restructuring Plan

After months of public pressure, OpenAI walked back part of its effort to create a more conventional for-profit company, but its restructuring plans still have not received the blessing of a major stakeholder: Microsoft Corp.

Microsoft, which has invested $13.75 billion in the startup, remains the biggest holdout among investors as the ChatGPT maker tries to restructure, according to several people familiar with the matter. The software giant wants to make sure that any changes to OpenAI’s structure adequately protect Microsoft’s investment, said the people, who spoke on condition of anonymity to discuss private deliberations. Microsoft is still actively ...