Microsoft renegotiates investment agreement with OpenAI, may give up part of equity in exchange for continued access

CoinRank News: According to the Financial Times, citing sources, Microsoft and its largest investment target OpenAI are renegotiating their investment agreement. Microsoft may give up part of its equity in OpenAI in order to continue to obtain the right to use its AI products and models after some terms of the original agreement expire in 2030. Since 2019, Microsoft has invested more than $13 billion in OpenAI. The negotiations come at a time when OpenAI is undergoing a restructuring, and it plans to transform into a public interest company controlled by a non-profit entity. The plan was previously opposed by co-founders and early investors including Elon Musk. On May 5 of this year, OpenAI announced that it would abandon its transition to a purely profit-making model. The agreement is crucial to OpenAIs governance structure adjustment and its future development. (Cointelegraph)