OpenAI calls out Microsoft reliance as risk in investor document ahead of expected IPO

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In a document that resembles an IPO prospectus, OpenAI said its close ties with Microsoft

could be a potential risk to its business, telling investors that the software company is responsible for “a substantial portion of our financing and compute.”

OpenAI included sections titled “Risks Related to the Transaction” and “Risks Related to our Business” in a financial document, viewed by CNBC, that the company shared with prospective investors tied to its recent record financing round.

Last month, OpenAI announced $110 billion in funding from strategic partners including Amazon