July 29 (Reuters) - Microsoft ( MSFT ) is in advanced

talks for a deal that would give the Windows maker continued

access to critical OpenAI technology in the future, Bloomberg

News reported on Tuesday, citing two people familiar with the

negotiations.

The companies have discussed new terms that would allow

Microsoft ( MSFT ) to use OpenAI's latest models and technology even if

the ChatGPT maker declares it has achieved artificial general

intelligence (AGI), or AI that surpasses human intelligence, the

report said.

A clause in OpenAI's current contract with Microsoft ( MSFT ) will

shut the software giant out of some rights to the startup's

advanced technology when it achieves AGI.

Negotiators have been meeting regularly, and an agreement

could come together in a matter of weeks, Bloomberg News

reported.

Microsoft ( MSFT ) and OpenAI did not immediately respond to a

Reuters request for comment.

OpenAI needs Microsoft's ( MSFT ) approval to complete its transition

into a public-benefit corporation. The two have been in

negotiations for months to revise the terms of their investment,

including the future equity stake Microsoft ( MSFT ) will hold in OpenAI.

Last month, The Information reported that Microsoft ( MSFT ) and

OpenAI were at odds over the AGI clause.

OpenAI is also facing a lawsuit from Elon Musk, who

co-founded the company with Sam Altman in 2015 but left before

it surged in popularity, accusing OpenAI of straying from its

founding mission - to develop AI for the good of humanity, not

corporate profit.

Microsoft ( MSFT ) is set to report June quarter earnings on

Wednesday, with its

relationship with OpenAI

in the spotlight, as the startup turns to rivals Google

, Oracle and CoreWeave ( CRWV ) for cloud

capacity.