By TipRanks
Publication Date: 2026-03-25 15:21:00
ChatGPT-maker OpenAI listed its reliance on Microsoft (MSFT) as a top risk in an investor document ahead of a potential IPO (initial public offering), per CNBC. The company relies on Microsoft for “a substantial portion of our financing and compute.” Any change or termination of the partnership could harm OpenAI’s “business, prospects, operating results, and financial condition.”
This prospectus-like document circulated during OpenAI’s latest funding round. In February, it raised $110 billion from strategic partners including Amazon (AMZN), Nvidia (NVDA), and SoftBank (SFTBY). The company is now reportedly partnering with banks to add another $10 billion in commitments from a wider group of investors, expected to close by the end of March.
Microsoft has been one of the earliest backers of OpenAI, having invested up to $13 billion since 2019. During OpenAI’s restructuring in October, Microsoft disclosed that its 27% diluted stake in the for-profit…