Hua Er Jie Jian Wen·2025-10-17 08:13Core Insights - Microsoft and OpenAI have engaged in a complex negotiation regarding data center supply, culminating in Microsoft relaxing its exclusive agreement, allowing OpenAI to sign significant cloud service contracts with competitors like Oracle, with payments expected to exceed Microsoft's own by 2030 [1][5] - Despite the apparent concession, Microsoft remains the sole provider of supercomputing resources for OpenAI's model training, a critical aspect of AI development, and will continue to receive a 20% revenue share from OpenAI's soaring earnings [1][6] - OpenAI has allocated a staggering $450 billion budget for server expenditures by 2030, with payments to competitors projected to surpass those to Microsoft [5][6] Group 1: Negotiation Dynamics - Tensions between Microsoft and OpenAI began in early 2024, as OpenAI's CEO Sam Altman demanded significantly more computing power, which would require Microsoft to invest hundreds of billions in additional infrastructure [3][4] - Delays in the construction of dedicated data centers exacerbated the conflict, with Altman expressing frustration over Microsoft's inability to expedite the process [3][4] - Microsoft's financial team, led by CFO Amy Hood, raised concerns about the risks of unlimited expansion to meet OpenAI's demands, leading to the decision to relax the exclusive agreement [4][6] Group 2: Strategic Outcomes - The summer of 2024 marked a turning point, with Altman requesting permission to negotiate with other cloud providers, prompting Microsoft to retain priority supply rights while allowing OpenAI to seek additional suppliers [5][6] - OpenAI's contracts with Oracle and other providers, including a $22.4 billion deal with CoreWeave, highlight the scale of its cloud service agreements, which have driven significant stock price increases for Oracle [5][6] - Microsoft is expected to receive approximately $135 billion in server rental fees from OpenAI by 2030, maintaining a critical role in the AI development ecosystem despite the competitive landscape [1][6]