PANews reported on September 12th that Bloomberg News reported that OpenAI is nearing an agreement with its largest shareholder, Microsoft , to form a new public benefit corporation controlled by the existing nonprofit. The nonprofit would receive at least $ 100 billion in equity, representing approximately 20% of the company's valuation. The two parties have signed a memorandum of understanding, with Microsoft agreeing to continue a deep collaboration. The restructuring still requires approval from the attorneys general of California and Delaware, and faces legal challenges from Elon Musk .PANews reported on September 12th that Bloomberg News reported that OpenAI is nearing an agreement with its largest shareholder, Microsoft , to form a new public benefit corporation controlled by the existing nonprofit. The nonprofit would receive at least $ 100 billion in equity, representing approximately 20% of the company's valuation. The two parties have signed a memorandum of understanding, with Microsoft agreeing to continue a deep collaboration. The restructuring still requires approval from the attorneys general of California and Delaware, and faces legal challenges from Elon Musk .