OpenAI’s October 2025 restructuring into a nonprofit-controlled public benefit corporation, paired with Microsoft’s solidified 27 percent stake and extended compute partnership through 2032, underpins the 95.7 percent market-implied probability against an acquisition before 2027. This structure removes prior fundraising limits while preserving independent governance, enabling continued large language model development and capital raises without external ownership. Traders see little incentive for a near-term sale given OpenAI’s valuation, strategic autonomy, and focus on scaling artificial intelligence infrastructure. A credible takeover would require major shifts such as regulatory pressure on the nonprofit stake or an unprecedented board decision, neither of which appears imminent in the current competitive and partnership landscape.