Microsoft and OpenAI are haggling over the tech giant's stake in the startup [Fortune]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Fortune
The two companies each hired investment banks to help answer how Microsoft's roughly $13.75 billion worth of investments in OpenAI since 2019 will translate after the startup converts from a non-profit to a for-profit corporation, according to the Wall Street Journal OpenAI hired Goldman Sachs to advise it during the process, and Microsoft brought on Morgan Stanley , the Journal reported. The two blue chip banks will now have to help their clients, who have deep ties, navigate a thorny financial question as they determine how much of OpenAI will be owned by Microsoft. Microsoft and Morgan Stanley declined to comment. OpenAI and Goldman Sachs did not respond to a request for comment. The negotiations over Microsoft's ownership stake comes as OpenAI's valuation has soared. The developer behind ChatGPT was valued at $157 billion after it closed a round of funding earlier this month. Investors in that round included the chipmaker Nvidia , venture capital firm Thrive Capital, and
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