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

In this articleTSMC3'-BROpenAI CEO Sam Altman speaks during the BlackRock Infrastructure Summit on March 11, 2026, in Washington.Anna Moneymaker | Getty ImagesIn 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" i ...