☁️Microsoft Books $10B From OpenAI in One Quarter, Stake Slips to 24%

Microsoft's OpenAI cash cow is getting bigger, and riskier

Microsoft just made $10 billion from OpenAI in a single quarter, and its grip on the company is loosening at the same time. That's the trade. Money keeps flowing in, but control keeps leaking out. If you build on Azure, this is the part to watch. OpenAI committed to buying an additional $250 billion in Azure services under the October 2025 deal, but the partnership is no longer exclusive. OpenAI can now work with other cloud providers, so your Azure-versus-everyone-else math just got more complicated. Teams relying on Azure OpenAI endpoints should expect pricing and capacity decisions to keep shifting. The numbers: $10 billion in the quarter is nearly 11% of Microsoft's $92.3 billion total. Annualized at that pace, it's roughly $40 billion. Full fiscal-year OpenAI revenue reached $24.1 billion. Microsoft's receivables from OpenAI rose to $7.2 billion from $6 billion in June, but those are old debts, not new income. Microsoft's stake fell from about 25% to 24% over the same window. What to watch: the split between revenue sharing and Azure compute isn't disclosed, so nobody outside the deal can say which part is durable.