OpenAI's blockbuster deals with Nvidia and AMD add a new layer to its complicated ownership structure and will dilute existing shareholders like Microsoft

ft.com/content/61ab5bc8-a125-4246-9761-80473028a99e?accessToken=zwAGQQOBy14Akc9hq1vIoSVCRtOXYYBHMCipng.MEUCIQCt3MqTB8IhZntrRtNnZMKjli-AEY4X4GouV5pvFkIkOwIgCLBp6k9zLh8z1DH_eajJy8Oj3IVJnYFP_PuHFlfxmaw&sharetype=gift

This story appeared on ft.com, 2025-10-13 05:27:53.879000.
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