OpenAI has outlined an ambitious timeline for AI research, projecting intern-level performance from its models by September 2026 and aiming for a fully autonomous AI researcher by 2028.

Microsoft and OpenAI announced the long-awaited details of their new partnership agreement Tuesday morning — with concessions on both sides that keep the companies aligned but not in lockstep as they move into their next phases of AI development.

The artificial intelligence company said the nonprofit that controlled the organization would receive a $130 billion stake in the new company.

OpenAI established a for-profit arm valued at $500 billion Tuesday, doing so through a long-anticipated corporate restructure that provides Microsoft with a large stake in the new company as it looks to expand on its rapidly expanding artificial intelligence offerings.

Microsoft will still hold a stake of about $135 billion, or 27%, in OpenAI Group PBC, which will be controlled by the OpenAI Foundation, a nonprofit

To top it all off, TSMC's stock is relatively well-priced compared to many of its AI peers. The company's shares have a price-to-earnings ratio of 31.5, which is nearly on par with the average P/E ratio of 31 for the S&P 500 index and far lower than the tech sector's 47 average.

In the new agreement, Microsoft gets a 27% stake in OpenAI's for-profit business, the OpenAI Group PBC, worth around $135 billion.