OpenAI warns Microsoft could be a ‘risk factor’ in its business ahead of potential IPO: Report

OpenAI has stated that its close ties with Microsoft could be a risk factor to its business, according to documents shared with prospective investors. The company noted that Microsoft is responsible for a substantial portion of its financing and compute resources. OpenAI's operating results will depend on whether it can successfully establish relationships with additional partners beyond Microsoft. The document also highlighted risks related to global chip supply shortages, specifically mentioning Taiwan Semiconductor Manufacturing Company (TSMC) and the potential for regional conflict to cause severe disruptions. OpenAI is reportedly preparing for an IPO that could value the company at up to $1 trillion by the second half of 2026.