Microsoft could end up with substantial equity in the restructured, for-profit OpenAI

In Brief How much equity in OpenAI will Microsoft get once the former becomes a for-profit company? That’s the multi-billion-dollar question — one the two parties are racing to answer ahead of a two-year deadline.The Wall Street Journal reports that both Microsoft and OpenAI have hired investment banks to negotiate Microsoft’s equity — which could be substantial. The tech giant is said to have sunk nearly $14 billion into OpenAI. As of October, OpenAI is the second-most valuable startup in the U.S. behind S ...