Oppenheimer downgraded Microsoft’s stock, warning that OpenAI losses could weigh on Microsoft earnings, all while AI revenue might trail expectations.

The OpenAI saga reads more like a novel than typical business history. The company has hired and fired its founder, shuffled through numerous executives, and is now making a dramatic shift to a for-profit company.

The soaring costs of running AI services will force ChatGPT maker OpenAI into Microsoft's arms, an analyst suggests.