Microsoft plans to invest $10 billion in OpenAI, the startup behind the popular artificial intelligence tool ChatGPT according to a report from Semafor.
According to Semafor, who cited people familiar with the matter, the deal is part of a funding round with other investors that would value OpenAI at a whopping $29 billion. Although it is unclear whether the deal has been finalised, term sheets sent to prospective investors indicated that the plan was to close the deal by the end of 2022, according to Semafor. Microsoft will reportedly receive 75% of OpenAI profits until it recoups its investment, at which point the company will own 49% of OpenAI.
