Microsoft's Brad Smith addressed the crowd at the Cascadia Innovation Corridor's annual summit, pitching AI's potential benefits while acknowledging the hype.

In the new agreement, Microsoft gets a 27% stake in OpenAI's for-profit business, the OpenAI Group PBC, worth around $135 billion.

Wall Street is expecting the company to report adjusted earnings per share of $3.68 on revenue of $75.5 billion, according to Yahoo Finance.

Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that

OpenAI is giving its long-time backer Microsoft Corp. a 27% ownership stake as part of a restructuring plan that took nearly a year to negotiate, removing a major uncertainty for both companies and clearing the path for the ChatGPT maker to become a for-profit business.

Microsoft and OpenAI reshape partnership to clear path for ChatGPT IPO OpenAI announced a massive corporate restructuring recently and the change has sent shockwaves through the tech industry. The company revealed a deal with Microsoft that changes its non-profit roots and possibly leads it to an initial public offering (IPO).