Microsoft, OpenAI reach deal removing fundraising constraints for ChatGPT maker
Cloud
Microsoft and OpenAI announced a deal on Tuesday to allow the ChatGPT maker to restructure itself into a public benefit corporation, cementing CEO Sam Altman's power within the AI world and giving the $500 billion startup more freedom to expand its empire. The deal removes a major constraint on raising capital for OpenAI that has existed since 2019, when it signed a deal with Microsoft that gave the tech giant rights over much of OpenAI's work in exchange for costly cloud computing services
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