The new agreement with Microsoft gives the software giant a roughly 27% stake in OpenAI's new for-profit corporation while changing some parts of their close partnership.

Microsoft made its first investment in Sam Altman's OpenAI in 2019. It now holds a 27% in OpenAI's for-profit business.

The new agreement values Microsoft’s 27% stake at $135 billion and extends its IP rights through 2032, giving Microsoft investors “upside optionality.”

Startup’s conversion clears obstacle for potential initial public offering, gives Microsoft 27% stake in new public-benefit corporation.

In the new agreement, Microsoft gets a 27% stake in OpenAI's for-profit business, the OpenAI Group PBC, worth around $135 billion.

Microsoft and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion and giving it more freedom in its business operations.

OpenAI also said it signed a new agreement with longtime backer Microsoft that gives the software giant a roughly 27% stake in OpenAI's new for-profit company.

A new deal in pact between Microsoft and open air. It's a new stake in open air p, b, c. What does that mean? Well, joining us is Bloomberg Tech co-host Caroline Hyde. And, Caroline, with these new agreements,