OpenAI Isn’t Just Building AGI — It’s Redefining Power in Tech.

OpenAI just pulled off one of the boldest corporate transformations in tech history — and most people missed what really happened beneath the surface.

The company has completed its for-profit restructuring, forming OpenAI Group PBC, a public benefit corporation, and creating a new nonprofit foundation that now holds equity worth around $130 billion. This isn’t just a financial move. It’s a complete rewire of who controls the future of artificial general intelligence — or AGI — and how the spoils will be shared when (or if) that future arrives.

At the heart of this deal lies a rebalanced partnership with Microsoft, OpenAI’s biggest backer and cloud ally. Microsoft’s ownership has slightly dropped, from 32.5% to roughly 27%, but what it gained in return is arguably more valuable — long-term access to OpenAI’s technology, even post-AGI, with safety clauses baked in.

The so-called “AGI clause,” once a source of tension, has been rewritten. Now, the declaration of AGI won’t come from OpenAI alone — it’ll be verified by an independent expert panel, adding a new layer of transparency to what might be the most significant technological milestone in human history.

That’s not all. Microsoft’s intellectual property rights now stretch through 2032, covering both existing and post-AGI models — a quiet but powerful win. Yet, they come with limits. Microsoft’s rights to OpenAI’s deep research and confidential methods only remain until 2030 or until AGI is officially verified, whichever comes first. After that, the door may close on what’s inside the OpenAI black box.

The new deal also marks a shift in freedom. OpenAI is no longer locked into Microsoft’s exclusive ecosystem. It can now partner with third parties, release open-weight models, and explore consumer hardware — including its secretive collaboration with Jony Ive, Apple’s legendary designer. Notably, Microsoft won’t have IP rights over that hardware’s design or underlying technology.

And yes, the rivalry is officially on. Microsoft can now pursue AGI independently or collaborate with other players — which means the once-tight alliance is now a competition with guardrails. The AGI race just got real.

Behind the legal language, this restructuring represents something deeper: the commercialization of AGI research while keeping a thread of nonprofit oversight. The OpenAI Foundation, with its $25 billion focus on healthcare and “AI resilience,” will play watchdog and benefactor — holding equity and influence in a company that’s walking the thin line between mission and market.

If OpenAI had missed its restructuring deadline this year, it risked losing up to $10 billion in SoftBank’s investment. That’s how high the stakes were. But now, the company stands rearmed — and more powerful than ever — with the blessing of regulators and the financial world.

This isn’t just about technology; it’s about control, ownership, and the future of intelligence itself. OpenAI and Microsoft have effectively written a new playbook for AI governance, one that blends profit with public accountability. The question now isn’t whether AGI will arrive — it’s who will truly own it when it does.

Because this deal makes one thing crystal clear:
The age of open AI might soon become the age of owned intelligence.