Microsoft also said that it has secured a deal with OpenAI where the ChatGPT maker will purchase $250 billion of Azure cloud computing services. (File Photo)

Microsoft said on Tuesday it has reached a deal with OpenAI to allow the ChatGPT maker to restructure itself into a public benefit corporation, following which Microsoft would hold a stake of about $135 billion – or 27% – in the AI startup.

Microsoft shares jumped 4% on the deal, which could clear the way for OpenAI to become publicly traded in the future.

Microsoft also said that it has secured a deal with OpenAI where the ChatGPT maker will purchase $250 billion of Azure cloud computing services. In exchange, Microsoft will no longer have a right of first refusal to provide computing services to OpenAI.

Microsoft’s earlier agre

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