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Last week, Microsoft and OpenAI renewed their AI vows by signing a new definitive agreement amid immense pressure for investors on the latter to evolve into a for-profit entity. Following the ChatGPT maker’s recapitalization, Microsoft, its largest backer with a $13 billion investment, now holds a $135 billion investment in OpenAI’s public benefit corporation (PBC), which translates to approximately 27% of the company on an as-converted diluted basis.
The agreement also featured some interesting…
