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Microsoft, OpenAI Reach Non-Binding Deal To Allow OpenAI To Restructure
Microsoft and OpenAI have signed a non-binding deal to restructure their partnership, paving the way for OpenAI to shift into a conventional for-profit model and potentially go public. Reuters reports: Details on the new commercial arrangements were not disclosed, but the companies said they were w...
Under their previous agreement, Microsoft had exclusive rights to sell OpenAI's software tools through its Azure cloud computing platform and had preferred access to the startup's technology. As OpenAI's revenue grows into the billions, it is seeking a more conventional corporate structure and partnerships with additional cloud providers to expand sales and secure the computing capacity needed to meet demand. The company hopes to complete the conversion by year's end, or risk losing billions in funding tied to that timeline.
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