OpenAI’s path to a potential IPO may have just got a little clearer. The AI company said on Thursday it has reached a preliminary agreement with major investor Microsoft that could allow the startup to restructure and, eventually, go public.
Both companies signed a nonbinding memorandum outlining “the next phase” of their relationship, with a definitive agreement expected in the coming months. The announcement was light on details; financial fine print was not disclosed, and the companies said they are still finalizing contractual terms.
