(Reuters) -Microsoft ( MSFT ) said on Tuesday it has reached a deal with OpenAI to allow the ChatGPT maker to restructure itself into a public benefit corporation, following which Microsoft ( MSFT ) would hold a stake of about $135 billion - or 27% - in the AI startup.

Microsoft ( MSFT ) shares jumped 4% on the deal, which could clear the way for OpenAI to become publicly traded in the future.

Microsoft ( MSFT ) also said that it has secured a deal with OpenAI where the ChatGPT maker will purchase $250 billion of Azure cloud computing services. In exchange, Microsoft ( MSFT ) will no longer have a right of first refusal to provide computing services to OpenAI.

Microsoft's ( MSFT ) earlier agreement with OpenAI gave it intellectual property rights to OpenAI's products and models until 2030, or until OpenAI achieved artificial general intelligence (AGI). Microsoft ( MSFT ) said that its product and model rights now extend to 2032 and that those rights will continue until then even if a panel of independent experts verifies a declaration by OpenAI that it has achieved AGI.