Microsoft Corp. and OpenAI finalized a new agreement in a long-negotiated partnership, removing a layer of uncertainty for both companies’ investors and paving the way for the ChatGPT maker to restructure as a for-profit business. 

Under the revised pact, Microsoft will get a 27% ownership stake in OpenAI worth about $135 billion, the companies said in a statement Tuesday. In addition, Microsoft will have access to the artificial intelligence startup’s technology until 2032, including models that achieved the benchmark of artificial general intelligence (AGI). 

The agreement clears a major obstacle for OpenAI’s business plans. OpenAI has spent much of this year working to restructure as a more traditional for-profit company. Microsoft, which backed OpenAI with some $13.75 billion, was the biggest holdout among the ChatGPT maker’s investors, Bloomberg News has reported.

“OpenAI has completed its recapitalization, simplifying its corporate structure,” said Bret Taylor, OpenAI’s chairman, in a statement. “The nonprofit remains in control of the for-profit, and now has a direct path to major resources before AGI arrives.”

OpenAI nonprofit entity, dubbed the OpenAI Foundation, is also set to receive an equity stake worth roughly $130 billion as part of its corporate restructuring. The foundation plans to initially focus on funding work to “accelerate health breakthroughs,” among other efforts.