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When Microsoft invested in OpenAI, they set a $92 billion return target, and now the company's stock value has far exceeded expectations.
BlockBeats News, May 12 — According to a Microsoft early planning document for 2023 disclosed in court, Microsoft set a $92 billion return target in its early large-scale investments in OpenAI.
Microsoft CEO Satya Nadella confirmed this target on Monday during a court appearance in Oakland, California, where he testified in a case involving Elon Musk suing OpenAI and Microsoft. Nadella stated that these investments “performed very well because we took on the risk,” and expressed that he is “very proud” of the cooperation between both parties.
As of early 2023, Microsoft had invested approximately $13 billion in OpenAI. As OpenAI’s valuation subsequently soared, surpassing $850 billion by the end of March this year, the value of Microsoft’s holdings in OpenAI reached about $135 billion, far exceeding the initial $92 billion return target. As part of OpenAI’s restructuring last year, Microsoft acquired a 27% ownership stake in the company.