That's functionally true, but more complicated. The for profit "OpenAI Global LLC" that you buy ChatGPT subscriptions and API access from and in which Microsoft has a large direct investment is majority-owned by a holding company. That holding company is itself majority owned by the nonprofit, but has some other equity owners. A different entity (OpenAI GP LLC) that is wholly owned by the nonprofit controls the holding company on behalf of the nonprofit and does the same thing for the for-profit LLC on behalf of the nonprofit (this LLC seems to me to be the oddest part of the arrangement, but I am assuming that there is some purpose in nonprofit or corporate liability law that having it in this role serves.)
https://openai.com/our-structure and particularly https://images.openai.com/blob/f3e12a69-e4a7-4fe2-a4a5-c63b6...
