OpenAI and Microsoft reportedly renegotiating partnership to allow for potential IPO

OpenAI and Microsoft reportedly renegotiating partnership to allow for potential IPO

OpenAI and Microsoft reportedly renegotiating partnership to allow for potential IPOOpenAI and Microsoft reportedly renegotiating partnership to allow for potential IPO

The news: OpenAI and Microsoft are reworking the terms of their multibillion-dollar partnership, according to a report from the Financial Times. Background: OpenAI announced last week that it is moving forward with a restructuring plan to create a for-profit public benefit corporation, controlled by its nonprofit parent. OpenAI needs sign-off from Microsoft — which has invested more than $13 billion in the ChatGPT maker since 2019 — to proceed with the plan. What’s new: The Financial Times reported that Microsoft could take a smaller equity stake in the new entity in exchange for extended access to OpenAI’s technology beyond the... Read More

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