OpenAI has reached a non-binding agreement with Microsoft (MSFT.US): the non-profit parent company will hold shares worth over $100 billion.

According to the Chit Fund APP, on Thursday local time, OpenAI announced an non-binding agreement with its largest investor Microsoft (MSFT.US), which will allow OpenAI to advance its restructuring plan to become a for-profit company. OpenAI stated that the non-profit parent company will retain $100 billion or more in shares.