{"id":57991,"date":"2026-04-30T00:19:59","date_gmt":"2026-04-30T00:19:59","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/57991\/"},"modified":"2026-04-30T00:19:59","modified_gmt":"2026-04-30T00:19:59","slug":"microsoft-has-conceded-more-ground-to-openai-in-win-for-amazon-says-ubs-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/57991\/","title":{"rendered":"Microsoft has conceded more ground to OpenAI in win for Amazon, says UBS"},"content":{"rendered":"<p>    <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/h3j7gn3IEtIEwoz.u_HArQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU1Ng--\/https:\/\/media.zenfs.com\/en\/proactive_uk_164\/88918c4af0a6a7993720b45e92d5ba4d\" alt=\"Microsoft has conceded more ground to OpenAI in win for Amazon, says UBS\" loading=\"eager\" height=\"556\" width=\"960\" class=\"yf-lglytj  loaded\"\/> Microsoft has conceded more ground to OpenAI in win for Amazon, says UBS Proactive uses images sourced from Shutterstock      <\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/finance.yahoo.com\/quote\/MSFT\" data-ylk=\"slk:Microsoft Corp (NASDAQ:MSFT);elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Microsoft Corp (NASDAQ&quot;}\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">Microsoft Corp (NASDAQ:MSFT)<\/a>\u00a0appears to have conceded more ground to OpenAI in a revised partnership that reshapes the balance of power in artificial intelligence, according to UBS, even as the broker keeps a positive stance on the stock.<\/p>\n<p class=\"yf-1fy9kyt\">The Swiss bank said the latest agreement \u2013 the third major revision in 16 months \u2013 allows OpenAI to host its products across rival cloud providers, effectively ending Microsoft\u2019s exclusivity and opening the door to competitors such as Amazon Web Services.<\/p>\n<p class=\"yf-1fy9kyt\">UBS said this change \u201cappears to be a major win for <a href=\"https:\/\/finance.yahoo.com\/quote\/AMZN\" data-ylk=\"slk:Amazon.com Inc (NASDAQ:AMZN);elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Amazon.com Inc (NASDAQ&quot;}\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">Amazon.com Inc (NASDAQ:AMZN)<\/a>\u201d and \u201ctough to describe\u2026 as anything but a negative for Microsoft\u201d, highlighting a broader shift as both companies pursue diversification.<\/p>\n<p class=\"yf-1fy9kyt\">The move seems to reflect practical constraints. OpenAI needs more computing power and distribution than Microsoft alone can provide, while Microsoft is increasingly building its own artificial intelligence models and allocating capacity elsewhere.<\/p>\n<p class=\"yf-1fy9kyt\">Other changes are more mixed. Microsoft will no longer pay a revenue share to OpenAI, which could lift Azure growth in the near term, but future payments from OpenAI will now be capped and end in 2030, limiting upside.<\/p>\n<p class=\"yf-1fy9kyt\">Microsoft is estimated to have an economic interest equivalent to around 25% of OpenAI, though it does not hold a conventional equity stake.\u00a0Because OpenAI uses a capped-profit structure, Microsoft\u2019s position is based on profit participation rights, not ordinary shares,\u00a0capped over time and tied to its funding rounds and commercial agreements.<\/p>\n<p class=\"yf-1fy9kyt\">UBS also noted the absence of any new cloud spending commitments from OpenAI, which may signal a shift towards multi-cloud strategies.<\/p>\n<p class=\"yf-1fy9kyt\">Despite this, UBS retains a &#8216;buy&#8217;\u00a0rating and a $510 price target, arguing the shares remain \u201creasonably-priced\u201d and that longer-term growth from Azure and AI services should underpin the investment case.<\/p>\n","protected":false},"excerpt":{"rendered":"Microsoft has conceded more ground to OpenAI in win for Amazon, says UBS Proactive uses images sourced from&hellip;\n","protected":false},"author":2,"featured_media":57992,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[129],"tags":[6006,31858,225,6009,28122,223,1966],"class_list":{"0":"post-57991","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ubs","8":"tag-amazon","9":"tag-amazon-web-services","10":"tag-artificial-intelligence","11":"tag-microsoft","12":"tag-openai","13":"tag-ubs","14":"tag-ubs-proactive"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116490798666208653","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/57991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=57991"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/57991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/57992"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=57991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=57991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=57991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}