Microsoft gets to offer OpenAI's tech to its cloud customers and doesn't have to pay for it. "We fully plan to exploit it," Nadella said.

The two companies are overhauling an agreement central to OpenAI’s for-profit model.

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The revamped deal keeps Microsoft as OpenAI’s main cloud partner through 2032, while allowing OpenAI to expand on Amazon, Google and other rival platforms

OpenAI has won major concessions from its largest shareholder, Microsoft, that will allow it to sell products on AWS, while Microsoft gets more cash in a revenue-share agreement.

Microsoft gets to offer OpenAI's tech to its cloud customers and doesn't have to pay for it. "We fully plan to exploit it," Nadella said.