Microsoft, OpenAI reach new deal to allow OpenAI to restruct

Microsoft, OpenAI reach new deal to allow OpenAI to restructure

https://finance.yahoo.com/news/microsoft-openai-reach-deal-allow-130719271.html

 

(Reuters) -Microsoft (MSFT) said on Tuesday it has reached a deal with OpenAI (OPAI.PVT) to allow the ChatGPT maker to restructure itself into a public benefit corporation, following which Microsoft would hold a stake of about $135 billion - or 27% - in the AI startup.

Microsoft also said that it has secured a deal with OpenAI where the ChatGPT maker will purchase $250 billion of Azure cloud computing services. In exchange, Microsoft will no longer have a right of first refusal to provide computing services to OpenAI.