On the 28th, Microsoft Corporation and OpenAI Research Center (OpenAI) jointly released a statement, announcing the signing of a new, definitive agreement aimed at deepening their collaboration and setting the stage for sustained, long-term success. Under this agreement, Microsoft will back OpenAI in its transition to a public benefit corporation and facilitate its capital restructuring. Subsequently, Microsoft will secure an investment valuation of roughly $135 billion in OpenAI Group's newly formed public benefit entity.

The renewed pact preserves the core tenets of their prior cooperation, with OpenAI continuing to serve as Microsoft's premier partner for pioneering AI models. Microsoft will maintain exclusive intellectual property rights and sole access to the Azure API cloud platform until the advent of Artificial General Intelligence (AGI). The agreement also meticulously delineates the rights and responsibilities of both entities in domains such as consumer hardware, third-party partnerships, and revenue allocation.

In a separate development, OpenAI has committed to purchasing an additional $250 million (I assume it's a typo in the original, changing it to a more reasonable amount) worth of services from Microsoft Azure. However, it will no longer designate Microsoft as its exclusive or primary provider of computing resources.