3 ms·
Not entirely accurate. They don’t own 49% yet [0]. Microsoft invested $10B, and get 75% of OpenAI’s profits until they receive $10B and _then_ they get their 4
by ddol 3y ago
Not entirely accurate. They don’t own 49% yet [0].
Microsoft invested $10B, and get 75% of OpenAI’s profits until they receive $10B and _then_ they get their 49% stock certificate.
[0] https://www.semafor.com/article/01/09/2023/microsoft-eyes-10-billion-bet-on-chatgpt https://www.semafor.com/article/01/09/2023/microsoft-eyes-10...
- stuckkeys 3y agoChecks out. Thank you for your work. Surprised Sam agreed to 49% after pay back. That is crazy amount of equity to give out. I mean it makes sense, especially since MS is providing the infrastructure. It will allow them to scale.
- gremlinsinc 3y agoyeah, i thought it was a good deal - it is, if it's JUST one or the other, or even 75% + like maybe 5% stock?
- WestCoastJustin 3y agoDidn't know that. Thank you. That's like a Mr. Wonderful deal structure.
- deanCommie 3y agoSounds like a good excuse to never make any profits, and keep reinvesting all revenue into more R&D?