Amazon completes full $50 billion investment in OpenAI

Odaily Planet Daily News: Amazon has disclosed in its 10-Q quarterly report that it has completed a total investment of $50 billion in OpenAI.

The report shows that in the first quarter of this year, Amazon invested $15 billion in OpenAI's Series C preferred stock and committed to an additional $35 billion investment. In the second quarter, Amazon invested $13.7 billion of the committed amount to purchase OpenAI Series C preferred stock; after the reporting period, the company completed the remaining $21.3 billion investment.

Amazon stated that if OpenAI completes an initial public offering (IPO) or another liquidity event, the currently issued Series C preferred stock will convert into common stock. The company expects to be subject to customary lock-up restrictions after the IPO and will continue to comply with relevant securities regulations thereafter. (Cailian Press)