From the papers, it seems Microsoft was ready with a whole new AI subsidiary to form after Sam Altman’s ouster as CEO in November 2023 — complete with a legal framework, ready to send to the Washington Secretary of State at a moments notice.
They had already budgeted for about $25 billion in costs to «absorb the OpenAI team.»
When Altman returned to OpenAI after a short while, he was already discussing possible board members with Microsoft.
The winner of the early story seems to be Microsoft, retaining leverage over «Major Decisions» up until the for profit reorganization of OpenAI.
Microsoft also retains the rights to OpenAI’s technology until 2032. Musk is suing for breach of contract/trust and is demanding $134 billion from OpenAI.
Read the full scoop at GeekWire.