OpenAI and Microsoft reach an understanding over ongoing contract negotiations — but AGI clause remains an uncertainty

Microsoft and OpenAI have signed a non-binding deal over the ongoing terms in their contract, clearing the way for OpenAI to begin its for-profit restructuring efforts before an expected IPO, Reuters reports. Crucially, this brings OpenAI closer to being able to receive $10 billion in investment funds from Japanese investment firm Softbank. This investment was contingent on a deal between Microsoft and OpenAI being reached before the end of the year. However, despite the buoyancy of the announcement,…