Matt Levine on Bloomberg pointed out that originally the OpenAI structure chart had MS as a minority owner: https://web.archive.org/web/20231109140650/https://

Matt Levine on Bloomberg pointed out that originally the OpenAI structure chart had MS as a minority owner: https://web.archive.org/web/20231109140650/https://openai.com/our-structure https://web.archive.org/web/20231109140650/https://openai.co... But now call it a minority economic interest: https://openai.com/our-structure https://openai.com/our-structure There are many financial arrangements that are not traditional ‘ownership shares of a company’ that the SEC treats as ownership in some ways for reporting, eg Total Return Swaps. As the agreement isn’t public it’s right that it should be investigated.