(BFM Stock Exchange) – The start -up known for launching Chatgpt would plan to go on the stock market, according to the Financial Times. But before arriving at this stage, Openai must negotiate with his partner Microsoft, which is not easy.

Known for launching the Chatgpt conversational robot at the end of 2022, the American company Openai is at a critical stage of its history.

Since 2019, she has been accompanied by Microsoft who had a certain Flair by investing massively in Openai with billions of dollars. $ 13 billion more precisely, according to the Financial Times.

The Seattle group would thus have 49% of the capital of the young shoot, according to several American media. This allowed it to integrate chatgpt technologies into several of its flagship and divisions products, such as the Bing search engine and its dematerialized computer unit (Cloud) Azure.

Welcome support while Openai swallows up billions of dollars to develop its models of artificial intelligence. However, relations between the two partners have deteriorated in recent years. And these difficulties tarnish the current discussions between Openai and Microsoft on a overhaul of their partnership which runs to 2030, the Financial Times reported on Sunday, May 11.

“A key demand for investors”

These negotiations will be decisive for Openai who wants to restructure. The company wants to develop its structure to a model of “public benefit corporation” or “company of public interest”.

To simplify, this status allows a lucrative business to arbitrate between the interests of its shareholders and those more “societal”. It gives a certain flexibility to these societies in the hierarchy of their objectives, by mixing financial and social ambitions.

Bloomberg explains what this change implies for OpenAi which works on the basis of a hybrid structure in which OpenAi Inc. is a non -profit organization and OpenAi LLC, whose microsoft software giant is a minority shareholder, is its for -profit subsidiary.

“This structure includes a” capped profit ‘model’, in which investors agree to limit their maximum financial return while adhering to the charities of non -profit organization “, explains Bloomberg. However, in the new version, Openai would convert the for -profit subsidiary into “Public Benefit Corporation” and would remove the cap of financial returns, which should seduce current and future investors.

However, Openai must have the agreement of his partner to operate this moult because she would open the way to an entry on the stock market. The Financial Times explains that this change was a “key demand from investors and that it would guarantee that” IPO becomes possible in the future “.

One of the critical points, according to the British daily, would be the participation that Microsoft as a restructured whole would have.

In the event of an introduction on the stock market, the valuation of Openai would be tested, the market putting a price on the company. During a recent fundraising, led by its Japanese shareholder Softbank, the young American shoot was estimated at $ 300 billion, according to the New York Times.

At the end of April, Gene Munster, managing partner of the Deepwater Management investment fund, had already hypothesized a potential Openai IPO in 2027.

At the end of January, it was the young tricolor shoot of the generative Mistral AI who had indicated to explore the track of an IPO to maintain its independence.