Rumors suggest that Microsoft is looking at a $10 billion stake in OpenAI, which is known for creating ChatGPT.
In Brief
Microsoft has plans to put $10 billion into OpenAI, the brain behind ChatGPT.
Previously, Microsoft had already invested $1 billion into OpenAI.
The discussions concerning this significant investment are still in the initial phases, and it remains uncertain if a deal will ultimately be finalized, as reported.
If the investment is finalized, it could elevate OpenAI's valuation to approximately $29 billion. Additionally, other venture capitalists are expected to get involved, pending the approval of documents sent to prospective investors, although it remains unclear if these have been executed. Semafor Should the partnership become a reality, Microsoft would claim 75% of OpenAI's earnings until it has recovered its investment. Subsequently, ownership would be divided with Microsoft holding 49%, other investors another 49%, and OpenAI's non-profit entity maintaining 2%.
OpenAI was co-founded by influential figures such as Greg Brockman, the former Chief Technology Officer of Stripe, and Elon Musk, the CEO of Tesla. Their project, ChatGPT, made its debut at the end of November 2022 and quickly gained immense popularity, reaching a million users in less than a week.
ChatGPT has found its place in the business world, where companies are integrating it into their workflows. Individuals too are exploring its potential by challenging the chatbot with various tasks. Sam Altman I reached out to my entire team today via a company-wide email, encouraging them to spend some time daily experimenting with AI and ChatGPT in order to leverage these tools for their work tasks. We're planning to incorporate its functionalities into our official operational procedures 🤝🧟.
So how did we get here with ChatGPT? Back in 2019, Microsoft made an approximate $1 billion investment in OpenAI, and now, it seems to be bearing fruit. The tech titan is reportedly working on integrating the chatbot into its search engine, Bing.
OpenAI, which has received a valuation round of $29 billion, is engaging with investors about the potential for significant growth. plans to integrate Microsoft and OpenAI's strategy aims to compete with Google by utilizing ChatGPT to enhance Bing's capabilities.
On a side note, OpenAI’s CEO Sam Altman claims that The arrival of Claude marks the emergence of the first major competitor to ChatGPT. banned students Please remember, the information contained on this webpage doesn't serve as legal, investment, tax, or financial advice. It’s crucial to invest only what you can afford to lose, and seek independent financial guidance if there's any uncertainty. For more details, we recommend reviewing the terms and conditions alongside the help and support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering precise and impartial reporting, though we acknowledge that market dynamics can change without notice.
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