OpenAI completed its for‑profit recapitalization and converted its commercial arm into the OpenAI Group Public Benefit Corporation, clearing a major governance and financing hurdle. Under the deal Microsoft will take a 27% stake, retain access to OpenAI technology through 2032 (including any AGI models verified by an independent panel), and the lab eliminated previous cloud exclusivity while contracting to purchase substantial Azure services. The restructuring was negotiated with state attorneys general and included provisions that an independent panel will verify any AGI milestone — a concession aimed at giving Microsoft greater assurance about when certain contractual rights trigger. OpenAI said the recapitalization frees the company to raise the large sums of capital needed to build next‑generation models and datacenter capacity. The deal reshapes the AI ecosystem’s commercial governance: it gives Microsoft a meaningful equity position and long horizon access to models while allowing OpenAI to pursue broader investor funding and new corporate governance tools. The arrangement matters to universities and research partners that rely on OpenAI models for research, teaching tools, and cloud collaborations.