It’s unclear if the deal has been finalized but documents sent to prospective investors in recent weeks outlining its terms indicated a targeted close by the end of 2022.The Wall Street Journal reported last week that ChatGPT was allowing employees and early investors to sell their shares at a valuation of $29 billion.But it’s going to be spending most of it on Microsoft’s cloud business, which is working hard to reach parity with competitor Amazon Web Services.Beyond the financial risks and rewards for Microsoft, the bigger prize is that it gets to work alongside OpenAI in developing the technology on Microsoft Cloud, which instantly puts Microsoft at the forefront of what could be the most important consumer technology over the next decade.It turned out that Microsoft and OpenAI had been working together for some time, collaborating on various projects and sharing resources."