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They already invested 1 billion in 2019, I think. So maybe they already own part of OpenAI and $10 billion brings their share up to 49% at a $29 billion valuation. Maybe I am wrong about the details here but these numbers do not mean that Microsoft is undervaluing them.

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75% of profit until investment is recouped sounds like a pretty bad deal, though. Not sure it makes sense to hobble a startup's ability to reinvest in themselves at this early of a stage.

I think this is talking about profit, not revenue. You can reinvest [edit: excessive] revenue to not have profit.

they won't leave those 10 billions gathering dust, they are expecting to raise their profit to a point where having 1/4 is more than keeping 1/1 today.

that or they let ChatGPT negotiate the deal.

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