Microsoft and OpenAI Just Ended Their Exclusive Deal, and Wall Street Is Trying Hard to Shake Off the Negatives for MSFT Stock

Microsoft said on April 28 it will stop paying a revenue share to OpenAI and its license to OpenAI’s tech is no longer exclusive through 2032, letting OpenAI work with other cloud providers like Amazon and Google. The announcement hit MSFT shares amid already-elevated volatility — the stock experienced a prior 10% one-day drop after fiscal Q2 results — but Wall Street has largely shrugged off the news. Analysts (including Goldman) maintained bullish ratings and highlighted Microsoft’s strong cloud performance (Azure +38% YoY) and solid quarterly results, suggesting the move isn’t a thesis-breaker. Near-term volatility is likely as investors digest the change alongside earnings, but the article argues the bias remains positive over time if Azure growth and AI monetization continue.