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Microsoft is publicly traded, and owns 49% of the for-profit OpenAI Global (the company that makes money with ChatGPT etc.).

It probably scared the downstream, see Microsoft pushing out a press release as soon as possible since they have been investing tons of money and PR into their OpenAPI partnership and needed to calm their investors and partners.

Good point, and the answer to that is possibly not. But, considering that it isn't ideal to publicize this sort of thing during market hours anyway, regardless of your public/private status, my takeaway is that OpenAI felt that they had to get in front of this news at all costs. I find that very interesting, and I wonder what the competing narrative would have been had they not done that.

Microsoft stock dropped 1% in 30-minutes. Relatively speaking, that’s a precipitous drop.