Ceiling for Microsoft: OpenAI to save nearly $100 billion in partner payments for IPO
Recently, demand for OpenAI securities has fallen under pressure from Anthropic's successes
Microsoft and OpenAI are once again changing the terms of their partnership / Photo: JRdes/Shutterstock.com
OpenAI and Microsoft have agreed to set a strict limit on the payments that the startup makes to the corporation under the revenue sharing agreement - now the total amount of deductions is limited to $38 billion, Reuters reports citing a publication in The Information. According to the latter's sources, the revised terms will allow the ChatGPT developer to save about $97 billion by 2030. Setting a financial "ceiling" is designed to help OpenAI present future investors a more convincing long-term plan ahead of the IPO, which could take place in late 2026, The Information points out.
Microsoft has invested a total of about $13 billion in OpenAI since 2019. In return, the corporation received a 27% stake in the startup, which, as of October 2025, was valued at $135 billion. The tech giant originally aimed to generate $92 billion in revenue from this investment, Bloomberg reports, citing documents disclosed in a U.S. court on Ma 11.
Over time, the relationship between Microsoft and OpenAI has become strained as the partners increasingly face direct competition for customers, Bloomberg states. In April, Microsoft said it would continue to receive a previously approved percentage of OpenAI's revenue through 2030 until the total amount reaches an agreed-upon limit. In addition to direct payments, the partnership with OpenAI has contributed to the growth of Microsoft's Azure cloud business.
In March 2026, OpenAI closed a $122 billion funding round that brought its valuation to $852 billion. The ChatGPT developer and tech giants like Microsoft and Nvidia are actually funding each other's promises in a "circular economy": the startup spends the money it receives from investors on their own cloud capacity and chips, CTech noted.
Demand for OpenAI shares on the OTC market fell sharply in early 2026: according to the analytical platform Caplight, in the first quarter of 2026, the number of bids to sell OpenAI securities was five times higher than the number of offers to buy. At the same time, the securities of its main competitor, Anthropic, began to enjoy a rush of demand due to the rapid growth of revenues and the successful launch of business tools.
This article was AI-translated and verified by a human editor
