Microsoft, OpenAI are rewriting the terms of their partnership, FT reports

OpenAI and Microsoft (MSFT) are rewriting the terms of their partnership in a negotiation made to allow OpenAI to launch a future initial public offering while protecting Microsoft’s access to its AI models, George Hammond, Stephen Morris, Cristina Criddle, and Melissa Heikkila of The Financial Times reports. Microsoft is offering to give up some of its equity stake in OpenAI’s new for-profit business in exchange for accessing new technology beyond the original deal’s 2030 cut off, three people with direct knowledge of the discussions said.