We are excited to extend our strategic alliance with OpenAI and collaborate on the Stargate project. Today's announcement builds on the initiatives our two companies have undertaken together since 2019. The fundamental aspects of our partnership will remain effective throughout our contract, which lasts until 2030. Our access to OpenAI’s intellectual property, revenue-sharing arrangements, and exclusivity on OpenAI’s APIs will continue: Microsoft holds the rights to OpenAI's IP, including both models and infrastructure, for integration into our products such as Copilot. This ensures our customers have access to the most suitable models to meet their needs. The OpenAI API is exclusive to Azure, operates on Azure infrastructure, and is available through the Azure OpenAI Service.

This collaboration allows customers to leverage premier models on Microsoft platforms as well as directly from OpenAI. Microsoft and OpenAI have established mutual revenue-sharing agreements, ensuring that both entities benefit from the increased utilization of both new and existing models. Microsoft continues to be a significant investor in OpenAI, providing financial support and resources to facilitate their innovations, which in turn positions us to gain from their rising valuation. Moreover, OpenAI has recently committed to a significant investment in Azure, which will further back all OpenAI products and training initiatives. This new agreement introduces changes to the exclusivity related to new capacity, transitioning to a model where Microsoft has a right of first refusal (ROFR). Additionally, Microsoft has sanctioned OpenAI to expand its capacity, primarily focusing on research and model training. We appreciate OpenAI's ongoing partnership and are eager to see what the future holds.