The strongest version of this narrative is that Microsoft’s strategic pivot reflects the realities of AI’s exponential growth: no single cloud provider can monopolize the infrastructure needed to sustain OpenAI’s ambitions. The move grants OpenAI the flexibility to scale while Microsoft secures long-term economic benefits without the burden of exclusivity. This is a pragmatic adjustment, not a failure, and the market’s reaction—Microsoft’s dip, competitors’ rise—validates the significance of the...