ChatGPT maker OpenAI negotiates with Microsoft to facilitate new funding, IPO: FT report

Sam Altman‘s OpenAI is renegotiating a multibillion-dollar deal with Microsoft to allow the ChatGPT maker an IPO in the future, while protecting the software giant’s access to cutting-edge artificial intelligence (AI) models, Financial Times reported.Microsoft is OpenAI’s largest backer with an investment of over $13 billion, and a key holdout in the latter’s efforts to restructure into a for-profit company from a non-profit. A critical issue in the negotiations is how much equity Microsoft will hold in the restructured OpenAI.

The original contract…