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OpenAI and Microsoft Revise Partnership Terms to Enable Future IPO and Secure AI Technology Access
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OpenAI and Microsoft Corp. are revising the terms of their partnership that will enable the ChatGPT maker to go public at a future date while preserving the software giant’s access to artificial intelligence technology, the Financial Times reported Sunday.
Microsoft is offering to give up some of its equity stake in OpenAI’s new for-profit business in exchange for accessing new AI models developed beyond 2030, when a key contract runs out, the newspaper cited people familiar with the negotiations as saying.
A reset of the contract, drafted when…
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