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.
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Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
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.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
