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Microsoft and OpenAI reach non-binding deal to allow OpenAI to restructure
OpenAI's nonprofit parent retains control with an equity stake valued over $100 billion under a new deal with Microsoft to enable capital raising and maintain mission focus.
- Microsoft and OpenAI have signed a non-binding memorandum of understanding for the 'next phase' of their partnership, according to their joint statement.
- The New York Times reported that the new agreement modifies the clause preventing Microsoft from accessing OpenAI's most powerful technology if human-like AGI is reached.
- OpenAI is giving an equity stake worth at least $100 billion to its nonprofit arm, allowing for a transition to a public benefit corporation.
- Microsoft has invested over $13 billion into OpenAI and is entitled to 49 percent of its future profits.
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56 Articles
Microsoft, OpenAI reach deal to allow OpenAI restructure
Microsoft and OpenAI said they have signed a non-binding deal for new relationship terms that would allow OpenAI to proceed to restructure itself into a for-profit company, marking a new phase of the most high-profile partnerships to fund the ChatGPT frenzy.
·Ireland
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Microsoft has been associated with OpenAI since 2016, when Bill Gates' company allocated IT capabilities to start-up in exchange for access to the results of its research.
·Paris, France
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Total News Sources56
Leaning Left9Leaning Right5Center8Last UpdatedBias Distribution41% Left
Bias Distribution
- 41% of the sources lean Left
41% Left
L 41%
C 36%
R 23%
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