OpenAI reportedly missed key internal revenue and adoption targets, raising concerns about its ability to sustain spending ahead of an expected IPO.
The company made $600 billion in spending commitments last year to purchase computing power, but has lost ground to Anthropic in coding and enterprise markets, while Google has gained consumer market share.
OpenAI rewrote its partnership with Microsoft: revenue-sharing between the two will be capped, and Microsoft's license to use OpenAI's IP will no longer be exclusive.
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