Amazon completes its $50 billion investment in OpenAI

Odaily Planet Daily reports that Amazon disclosed in its 10-Q quarterly report that it has completed its full $50 billion investment 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. In the second quarter, Amazon invested $13.7 billion of its committed amount to purchase OpenAI's Series C preferred stock; after the reporting period, the company completed the remaining $21.3 billion investment. Amazon stated that if OpenAI completes its initial public offering (IPO) or other liquidity events, the currently issued Series C preferred stock will be converted into common stock. The company expects to be subject to a customary lock-up period after the IPO, and will then still be subject to relevant securities regulations. (Cailian Press)