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Tuesday, January 31, 2023

OpenAI’s ChatGPT maker may be backed by $10 billion from Microsoft

Highlights

  • AI applications have made tremendous progress in the past year with ChatGPT
  • Next generation technology is already in the works at OpenAI
  • According to reports, Microsoft is taking a significant move to give itself an edge over its rivals.
  • A $10 billion investment could be made by Microsoft into OpenAI, which made the widely popular AI chatbot tool named ChatGPT.
  • There are also discussions between Microsoft and other venture capital firms about investing $29 billion in OpenAI

A chatbot powered by artificial intelligence called ChatGPT caught the attention of the mainstream media last year because it could answer various questions via text and engage in a conversation using written prompts. Compared to previous Silicon Valley chatbots, it offers more creative and sophisticated answers.

OpenAI’s expertise is in developing software with the ability to acquire new skills and modify its approach to existing ones. Casual users and industry professionals alike have been raving about ChatGPT since the company released the app last month, which has been well praised by both users and specialists in the field. Although there’s no confirmation about the finalization of the deal, Semafor reported that a deal closing date of the end of 2022 was indicated in term sheets which was later sent to prospective investors.

A 75% share of OpenAI’s profits will be awarded to Microsoft until the organization has recovered its investment. Ultimately, Microsoft will gain access to OpenAI’s tools and the chance to influence their direction. Thus Microsoft will be able to stay ahead of changing consumer technology as a result of this.

Dibbyyan Nath
Dibbyyan Nathhttps://thereaderstime.in/
Dibbyyan is a tech-enthusiast, strategist and a writer who has mentored professionals, entrepreneurs for self and career growth while his owned organization Inteliqo Research and Services have fulfilled different technical projects of renowned global brands.After obtaining degrees and certifications from various national and international reputed institutes such as IIT Delhi, Indian Council of Technical Research and Development, UC San Diego and many more, he has realized that knowledge is incomparable and can definitely make a positive impact on society. His passion towards writing influenced him to engage into different ventures being driven by writing and research which includes the foundation of The Readers Time

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