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I have just finished carefully reading the latest protocol between Microsoft and OpenAI
It seems to be paving the way for OpenAI's IPO.
In terms of structure, OpenAI's non-profit organization has now been renamed OpenAI Foundation, holding a 26% stake in the profit-making division, valued at approximately $130 billion.
The profit division of OpenAI has now become a public benefit corporation called OpenAI Group PBC.
Microsoft owns a 27% stake, worth about $135 billion. Based on this, OpenAI's valuation has already reached $500 billion.
Since 2019, Microsoft has invested over $1.3 billion in OpenAI. Over six years, this investment has appreciated more than tenfold.
Microsoft has secured the use rights to AGI until 2032, but no longer has the priority to purchase OpenAI's hash power.
However, OpenAI has committed to investing an additional $250 billion to purchase Azure services.