Shares of Microsoft Corporation (NASDAQ:MSFT) are falling Friday as the company tries to reaffirm a strong partnership with OpenAI despite not being included in the AI company’s latest funding and partnerships announcement.
- Microsoft stock is under selling pressure. Why is MSFT stock trading lower?
OpenAI Announces New Funding Round Sans Microsoft
OpenAI announced $110B in new investment at a $730B pre-money valuation. This includes $30B from SoftBank, $30B from NVIDIA, and $50B from Amazon. The company also signed a strategic partnership with Amazon and secured next generation inference compute with NVIDIA.
Microsoft, who was not mentioned in the press release, has a mutually beneficial arrangement with OpenAI that started in 2019. Microsoft released a statement Friday saying that its relationship with OpenAI, including revenue shares, IP agreements and Azure as the stateless cloud provider remains unchanged.
Even though Microsoft reaffirmed the relationship, shares still slid.
Shares Down Slightly In Regular Trading
MSFT Price Action: Microsoft shares were down 2.17% at $393.01 at the time of publication on Friday, according to Benzinga Pro data.
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