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Stock impact report

OpenAI, Microsoft in $14B tussle as AI giant changes into for-profit company: report [Yahoo! Finance]

Goldman Sachs Group, Inc. (The) (GS) 
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am Check Earnings Report
US:NYSE Investor Relations: goldmansachs.com/investor-relations
Company Research Source: Yahoo! Finance
intelligence juggernaut as the latter prepares to transform itself from nonprofit to for-profit company. Both firms have turned to investment banks for advice in the high-stakes negotiations as Microsoft seeks a major slug of equity in OpenAI in exchange for the $14 billion in cash it has injected into the company thus far, according to the Wall Street Journal Microsoft, headed by CEO Satya Nadella, has hired Morgan Stanley, the paper reported, citing unnamed sources close to the situation. OpenAI — headed by 39-year-old tech tycoon Sam Altman — has meanwhile hired Goldman Sachs, the sources said. Microsoft is OpenAI's biggest investor and began its massive cash infusions in 2019. The company was a participant in a recently closed $6.6 billion fundraising round that valued OpenAI at a whopping $157 billion – even though it is expected to lose $5 billion this year. Aside from the size of Microsoft's equity take, the companies are expected to negotiate the extent of its gove Show less Read more
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