Concurrent with OpenAI’s latest funding round, a number of media articles related to OpenAI financials as well as its relationship with Microsoft (MSFT) have generated considerable interest, and while the EPS dilution and the CapEx requirements are sources of pressure, UBS believes that they’re offset by OpenAI’s lift to Azure growth and that a potential shift from an exclusive to a primary provider of compute infrastructure to OpenAI may be a good thing for Microsoft, UBS tells investors in a research note.
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