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OpenAI Enters 'Tough Negotiation' With Microsoft, Hopes to Raise Money With IPO
OpenAI is currently in "a tough negotiation" with Microsoft, the Financial Times reports, citing "one person close to OpenAI." On the road to building artificial general intelligence, OpenAI hopes to unlock new funding (and launch a future IPO), according to the article, which says both sides are ...
"On the road to building artificial general intelligence, OpenAI hopes to unlock new funding (and launch a future IPO), according to the article, which says both sides are at work "rewriting the terms of their multibillion-dollar partnership in a high-stakes negotiation...." Three people with direct knowledge of the talks said Microsoft is offering to give up some of its equity stake in OpenAI's new for-profit business in exchange for accessing new technology developed beyond the 2030 cut off... That would hit OpenAI's ability to raise more cash, achieve a future float, and obtain the financial resources to take on Big Tech rivals such as Google.
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