Changes dateline and adds details
Oct 28 (Reuters) - Microsoft MSFT.O and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation , valuing OpenAI at $500 billion and giving it more freedom in its business operations.
The Windows-maker will still hold a stake of about $135 billion, or roughly 27%, in OpenAI Group PBC, which will be controlled by the OpenAI Foundation, a nonprofit, the companies said.
Below is a timeline of important events related to the startup at the heart of the AI boom, since its inception:
Date | Event |
December 11, 2015 | Tech executives including Elon Musk and Sam Altman announce the launch of OpenAI, pouring in $1 billion to create the AI firm |
2018 | OpenAI announces that Musk is leaving its board |
2019 | OpenAI creates for-profit arm to help raise funds from investors |
Nov. 17, 2023 | OpenAI board fires CEO Altman and President Greg Brockman quits. Mira Murati named as interim CEO |
Nov. 18, 2023 | Altman's firing was over a "breakdown in communication between Sam and the board," and not "malfeasance", COO Brad Lightcap says in an internal memo |
Nov. 20, 2023 | Microsoft CEO Satya Nadella says the Windows maker has hired Altman, Brockman and their colleagues to lead a new advanced AI research team |
OpenAI appoints former Twitch boss Emmett Shear as interim CEO. Shear pledges probe into Altman's exit. | |
Nearly all OpenAI staff threaten to quit and join Altman at Microsoft, demanding board resign and Altman and Brockman are reinstated | |
Nov. 21, 2023 | OpenAI says Altman will return as CEO with a new initial board. Brockman will also return |
Nov. 29, 2023 | Altman says Microsoft will take a non-voting, observer position on OpenAI's board |
Dec. 13, 2023 | Axel Springer partners with OpenAI in a first-of-its-kind deal to deliver summaries of the global news publisher's content |
Dec. 27, 2023 | The New York Times NYT.N sues OpenAI and Microsoft, accusing them of using the newspaper's articles without permission to train chatbots |
Jan. 25, 2024 | The FTC orders OpenAI, Microsoft, Alphabet GOOGL.O, Amazon AMZN.O and Anthropic to provide information on recent investments and partnerships as it scrutinizes tech deals |
Feb. 16, 2024 | OpenAI completes a deal that values it at $80 billion or more, according to media reports |
March 1, 2024 | Musk sues OpenAI and Altman, saying they abandoned the startup's original mission to develop AI for the benefit of humanity |
March 8, 2024 | Altman returns to the OpenAI board along with three new directors |
May 14, 2024 | OpenAI co-founder and chief scientist Ilya Sutskever leaves the company |
June 10, 2024 | OpenAI hires Sarah Friar, former CEO of social media firm Nextdoor KIND.N, as its first CFO |
June 11, 2024 | Musk moves to dismiss his lawsuit against OpenAI and Altman |
July 10, 2024 | Microsoft gives up its board observer seat at OpenAI |
August 5, 2024 | Musk revives lawsuit against Altman and OpenAI |
September 25, 2024 | OpenAI's three top technical leaders, including CTO Mira Murati, quit the company |
October 2, 2024 | OpenAI raises $6.6 billion, valuing the company at $157 billion |
December 27, 2024 | OpenAI says it plans to revamp its for-profit arm into a public benefit corporation $(PBC)$ to ease the restrictions imposed by its current non-profit parent |
January 14, 2025 | Private equity veteran Adebayo Ogunlesi, CEO of Global Infrastructure Partners (GIP), joins OpenAI's board |
January 21, 2025 | OpenAI plans joint venture with SoftBank and Oracle ORCL.N to build up to $500 billion of new AI data centers in the United States |
Microsoft changes its exclusive deal terms with OpenAI to allow the company to build additional data center capacity, paving the way for the JV | |
January 22, 2025 | OpenAI and SoftBank say they will each commit $19 billion to fund Stargate, a joint venture to develop data centers for AI in the U.S |
January 30, 2025 | SoftBank Group is in talks to lead a funding round of up to $40 billion in OpenAI at a valuation of $300 billion, including new funds, sources say |
February 10, 2025 | A consortium led by Musk offers to buy the nonprofit that controls OpenAI for $97.4 billion. |
February 11, 2025 | OpenAI's board has not received Musk's takeover bid, source says |
February 13, 2025 | Consortium led by Musk will withdraw its bid for OpenAI's non-profit arm if the startup drops plans to become a for-profit entity, Musk's lawyers say |
February 14, 2025 | OpenAI rejects Musk's bid for the ChatGPT maker, saying the startup is not for sale and that any future bid would be disingenuous |
March 4, 2025 | A U.S. judge denies Musk's request for a preliminary injunction to pause OpenAI's transition to a for-profit model but agrees to a fast-track trial in the fall of this year |
March 5, 2025 | Britain drops its probe into Microsoft's partnership with OpenAI |
March 15, 2025 | OpenAI and Musk agree to fast-track a trial over for-profit shift |
March 28, 2025 | OpenAI must transition to a for-profit company by the end of the year to secure the full $40 billion funding led by SoftBank, a source says |
April 1, 2025 | OpenAI officially announces raising up to $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation |
April 4, 2025 | Musk's lawsuit against OpenAI will go to a jury trial in spring 2026, federal judge presiding over the case decides |
April 9, 2025 | OpenAI countersues Musk, citing a pattern of harassment by him |
April 15, 2025 | OpenAI names members to its newly formed nonprofit commission, which will guide the company's philanthropic efforts |
April 16, 2025 | OpenAI in discussions to buy AI-assisted coding tool Windsurf for about $3 billion - report |
May 5, 2025 | OpenAI says it would remain under the control of its nonprofit parent, while pushing ahead with plans to change the structure of its for-profit arm |
May 8, 2025 | Instacart head Fidji Simo steps down to join OpenAI as its chief of applications |
May 19, 2025 | OpenAI prevails in a lawsuit in Georgia that accused the ChatGPT maker of defaming a radio host by fabricating allegations and a fictional lawsuit against him |
May 21, 2025 | OpenAI buys Jony Ive's startup io Products in a $6.5 billion deal |
May 28, 2025 | OpenAI's CFO Sarah Friar says the startup's restructuring plans position it for a potential future IPO |
June 9, 2025 | OpenAI says its annualized revenue run rate surged to $10 billion as of June |
June 10, 2025 | OpenAI plans to add Alphabet's Google cloud service to meet its growing needs for computing capacity, three sources tell Reuters |
June 16, 2025 | OpenAI wins a $200 million contract to provide the U.S. Defense Department with artificial intelligence tools |
July 17, 2025 | OpenAI launches AI agent for its ChatGPT |
July 22, 2025 | OpenAI and Oracle expand their tie-up to develop another 4.5 gigawatts of data center capacity |
July 23, 2025 | OpenAI wins trademark lawsuit over 'Open Artificial Intelligence' |
July 31, 2025 | OpenAI plans to build its first Stargate data center project in Europe, partnering with developer Nscale Global Holdings and investment group Aker ASA |
August 18, 2025 | OpenAI releases ChatGPT Go, a new India-only subscription plan priced at 399 rupees per month |
August 21, 2025 | OpenAI announces to open first India office in New Delhi |
September 2, 2025 | OpenAI says it will acquire Statsig in an all-stock deal valuing the product testing startup at about $1.1 billion based on OpenAI's current valuation of $300 billion |
September 11, 2025 | Microsoft and OpenAI sign a non-binding deal for new relationship terms that would allow OpenAI to proceed to restructure itself into a for-profit company |
September 16, 2025 | OpenAI hires Mike Liberatore, former finance chief at Musk's xAI, to be the AI startup's business finance officer |
September 22, 2025 | Nvidia plans to invest up to $100 billion in OpenAI and supply it with data center chips |
September 23, 2025 | OpenAI, Oracle, SoftBank announce plans for five new AI data centers in the U.S. |
September 29, 2025 | OpenAI rolls out parental controls for ChatGPT on the web and mobile |
September 29, 2025 | OpenAI introduces a feature that would allow users to make purchases through ChatGPT, in partnership with Etsy and Shopify |
September 30, 2025 | OpenAI launches AI video tool Sora as standalone app |
October 2, 2025 | OpenAI reaches a valuation of $500 billion, following a deal in which current and former employees sold roughly $6.6 billion worth of shares, a source tells Reuters |
October 7, 2025 | AMD will supply AI chips to OpenAI in a multi-year deal that would bring in tens of billions of dollars in annual revenue and give the ChatGPT creator the option to buy up to roughly 10% of the chipmaker |
October 13, 2025 | OpenAI partners with Broadcom to produce its first in-house AI processors |
October 21, 2025 | OpenAI unveils ChatGPT Atlas , a long-anticipated AI-powered web browser built around its popular chatbot |
October 28, 2025 | OpenAI says it will offer ChatGPT Go free to users in India for one year starting November 4 |
October 28, 2025 | Microsoft and OpenAI reach a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion |
(Reporting by Akash Sriram, Arsheeya Bajwa, Zaheer Kachwala, Kritika Lamba, Harshita Mary Varghese and Jaspreet Singh in Bengaluru; Editing by Sriraj Kalluvila, Rosalba O'Brien, Shinjini Ganguli and Maju Samuel)
((Akash.Sriram@thomsonreuters.com; On X as @HoodieOnVeshti; +91-74116-87774))