Microsoft's $13 Billion OpenAI Deal to Avoid Formal EU Probe [Yahoo! Finance]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Yahoo! Finance
Most Read from Bloomberg Dubai Grinds to Standstill as Cloud Seeding Worsens Flooding Tesla Asks Investors to Approve Musk's $56 Billion Pay Again China Tells Iran Cooperation Will Last After Attack on Israel What If Fed Rate Hikes Are Actually Sparking US Economic Boom? Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs The European Commission has decided that the tie-up doesn't merit a formal probe because it falls short of a takeover and that Microsoft doesn't control the direction of OpenAI, according to people familiar with the matter. The EU's antitrust arm said in January it was reviewing whether Microsoft's involvement with OpenAI should be vetted after a mutiny at the ChatGPT creator exposed deep ties between the two firms. While most deals examined under the EU's merger regulation are eventually approved by Brussels watchdogs, officials are unafraid of wielding a veto if any competition concerns can't be fixed within strict deadlines. Mic
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