Microsoft has announced that it has signed a new comprehensive agreement building upon the partnership established in 2019. Through this agreement, Microsoft indicated its policy to support OpenAI's transition to a Public Benefit Corporation (PBC) and its capital restructuring.
Microsoft and OpenAI Confirm PBC Transition and Maintenance of Exclusive Rights Until AGI in New Agreement
This article is a translation. Read the Japanese original
Following the capital restructuring, Microsoft's investment in OpenAI Group PBC is reported to be approximately $135 billion. This represents about 27% of the total ownership base, including employees, investors, and the OpenAI Foundation.
Excluding the impact of recent funding rounds, Microsoft held an investment ratio of approximately 32.5% in OpenAI's for-profit arm. This figure reflects the situation prior to the capital restructuring.
The agreement explicitly states that existing key elements will be maintained. OpenAI will remain Microsoft's frontier model partner, and Microsoft is said to retain exclusive IP rights and exclusive usage rights for the Azure API until AGI is achieved.
Furthermore, new provisions were added to allow each company to independently pursue innovation and growth. Both companies stated that they will continue product development to meet real-world needs and are prepared to create new opportunities.
Source: The next chapter of the Microsoft–OpenAI partnership（HN 366pt・480コメント）（HN Search (backfill)、2025-10-28）