Microsoft to invest $10 bln in ChatGPT-owner OpenAI: Report
By MYBRANDBOOK
Microsoft Corp is in talks to invest $10 billion in ChatGPT-owner OpenAI. The funding from Microsoft will then value the firm at $29 billion, according to a report citing people familiar with the matter.
There has been a rising interest in the artificial intelligence company, whose chatbot has dazzled amateurs and industry experts with its ability to spit out haikus, debug code and answer questions while imitating human speech. The funding could also include other venture firms and documents sent to prospective investors outlining its terms indicated a targeted close by the end of 2022, according to the report.
Microsoft had in 2019 invested $1 billion in OpenAI, founded by Elon Musk and Sam Altman. Microsoft's cloud services arm also provides the computing power needed by the AI firm. The software firm last year unveiled plans to integrate image-generation software from OpenAI into its search engine Bing.
According to Semafor, Microsoft will also get 75% of OpenAI's profits until it recoups its initial investment. Microsoft would have a 49% stake in OpenAI, with other investors taking another 49% and OpenAI's nonprofit parent getting 2%, Semafor said.
OpenAI charges developers licensing its technology about a penny or a little more to generate 20,000 words of text, and about 2 cents to create an image from a written prompt. It spends about a few cents in computing power every time someone uses its chatbots.
A Wall Street Journal report said last week OpenAI was in talks to sell existing shares at a roughly $29 billion valuation in a tender offer that would attract investment of at least $300 million.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
RELIANCE JIO INFOCOMM LTD.
NUMERIC INDIA, A Group Brand Legrand
BPE INDIA PVT. LTD.
LENOVO INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Girish Mathrubootham
Girish Mathrubootham is the Founder of Freshworks (previously known ...
ICONS OF INDIA : SOM SATSANGI
With more than three decades in the IT Sector, Som is responsible for ...
ICONS OF INDIA : SUNIL BHARTI MITTAL
Sunil Bharti Mittal is the Founder and Chairman of Bharti Enterprises,...
PARTNER SPEAKERS
PSU
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
BSE - Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is one of India’s largest and oldest...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
