OpenAI and Microsoft sign preliminary deal to revise partnership terms
Companies work to finalize terms as OpenAI pursues for-profit restructuring.
On Thursday, OpenAI and Microsoft announced they have signed a non-binding agreement to revise their partnership, marking the latest development in a relationship that has grown increasingly complex as both companies compete for customers in the AI market and seek new partnerships for growing infrastructure needs.
“Microsoft and OpenAI have signed a non-binding memorandum of understanding (MOU) for the next phase of our partnership,” the companies wrote in a joint statement. “We are actively working to finalize contractual terms in a definitive agreement. Together, we remain focused on delivering the best AI tools for everyone, grounded in our shared commitment to safety.”
The announcement comes as OpenAI seeks to restructure from a nonprofit to a for-profit entity, a transition that requires Microsoft’s approval, as the company is OpenAI’s largest investor with more than $13 billion committed since 2019.
Source Link: https://educronix.com/openai-and-microsoft-sign-preliminary-deal-to-revise-partnership-terms/
Author: Ernestro Casas -
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Companies work to finalize terms as OpenAI pursues for-profit restructuring.
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