News Summary

• Microsoft CEO Satya Nadella was asked point-blank by a Wall Street analyst on Wednesday how its revised OpenAI partnership would impact Microsoft’s financials.
• He said that the new agreement was a good deal for everyone.
• “We have a frontier model, with all the IP rights that we will have access to all the way to ’32 and we fully plan to exploit it,” he said.
• The company reported that its AI business has surpassed an annual revenue run rate of $37 billion, up 123% year-over-year.