OpenAI to Microsoft

2025-10-28, compute commitment

From OpenAI to Microsoft

Disclosed: $250bn

Committed: undisclosed

Basis: announced ceiling

Confidence: high

Term: undisclosed

Source

Microsoft, 2025-10-28

Notes

Under the recapitalisation terms, OpenAI contracted to purchase an incremental 250 billion US dollars of Azure services, and Microsoft's right of first refusal on compute ended; Microsoft holds about 27 percent of OpenAI on an as-converted diluted basis.

Tags

• openai-compute
• azure
• restructuring

Loops

• amazon>openai>microsoft>anthropic

  OpenAI announced a $250B compute commitment to Microsoft on 2025-10-28, and Microsoft an equity investment of up to $5B in Anthropic on 2025-11-18. Amazon announced $50B of equity in OpenAI on 2026-02-27, and Anthropic a $100B compute commitment to Amazon over ten years on 2026-04-20. All four figures are announced ceilings; the committed amounts are undisclosed.

  Closed on 2026-04-20