OpenAI修订与微软的合作协议，结束独家云合作关系，未来可将其服务部署于亚马逊云等平台。微软保留至2032年的非独家模型许可以及至2030年的有上限收入分成。此举削弱了微软的稀缺性优势，引发其股价下跌，但有助于微软释放资本投入Copilot并缓解反垄断压力。亚马逊成为明确赢家，其AWS从备用基础设施转为OpenAI的前线平台；谷歌云也获得了竞争OpenAI工作负载的机会。OpenAI创始人确认微软仍是其主要云合作伙伴，但产品将扩展至所有云平台。
OpenAI 和微软的独家绑定正式松动，这不只是两家公司的合同调整，而是整个 AI 基础设施格局的重新洗牌。AWS 和 Google Cloud 终于拿到了入场券，做云服务选型的人该重新算账了。
OpenAI is moving away from its exclusive Microsoft arrangement, making room for possible partnerships with Amazon and Google.
At the same time, Microsoft wants to cut its dependence on OpenAI by creating its own AI models.
Ending the exclusivity could also help lower antitrust scrutiny across the U.S., U.K., and Europe.
Barclays analysts said the shift may free Microsoft to invest more in Copilot and expand cloud capacity.
Last month, Microsoft was considering legal action against Amazon and OpenAI over a $ 50B cloud deal that may have violated its exclusive cloud partnership.
The revised arrangement now lets OpenAI run its services on Amazon’s cloud without the technical changes required under the earlier Microsoft agreement.
Microsoft still keeps a non-exclusive license to OpenAI model and product IP through 2032, still gets OpenAI revenue share through 2030, and still sits inside the upside as a major shareholder.
Microsoft stock, falls -5% after announcing that its OpenAI license will now be nonexclusive and it will no longer pay revenue share to OpenAI.
Investors can punish the loss of exclusivity on the headline, even if the deeper effect is to simplify the alliance and reduce regulatory and capital strain.
But the software giant will no longer share revenue for the OpenAI products it sells on its cloud. Revenue OpenAI must share with Microsoft through 2030 will now have a cap for the total number and no longer tied to the startup's technology milestones.
My read is that OpenAI gained more bargaining power than Microsoft gained certainty, which explains why investors initially treated the change like a moat reduction rather than a breakup.
For Microsoft, the selloff reflects a real loss of scarcity premium, but the deeper gain is strategic - freeing capital for Copilot and other cloud capacity, while also easing antitrust pressure and reducing dependence on a partner that recently accounted for about 45% of Microsoft’s remaining performance obligation.
Amazon looks like the clearest tactical winner. It already has a strategic OpenAI partnership, Bedrock distribution for OpenAI Frontier, and a large Trainium capacity commitment, so this deal turns AWS from backup infrastructure into a front-line route to OpenAI.
Google Cloud gains something subtler but important: the right to compete for OpenAI workloads even while competing in models.
we have updated our partnership with microsoft. microsoft will remain our primary cloud partner, but we are now able to make our products and services available across all clouds. will continue to provide them with models and products until 2032, and a revenue share through 2030.在 X 查看被引用的帖子
来源：Rohan Paul · x.com