OpenAI and Microsoft sign agreement to restructure OpenAI into a public benefit corporation with Microsoft retaining 27% stake — non-profit ‘Open AI Foundation’ to oversee ‘Open AI PBC’

Share via:


OpenAI has been at the forefront of the rapidly expanding artificial intelligence industry for years, with ChatGPT largely responsible for ushering in this new era of technology. Microsoft was an early believer in the company, investing $1 billion back in 2019 in exchange for becoming OpenAI’s exclusive cloud partner and gaining the right to commercialize its models through Azure. Today, that agreement is changing — marking what could be a seismic shift in the AI landscape.

OpenAI and Microsoft have…



Source link

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.

Popular

More Like this

OpenAI and Microsoft sign agreement to restructure OpenAI into a public benefit corporation with Microsoft retaining 27% stake — non-profit ‘Open AI Foundation’ to oversee ‘Open AI PBC’


OpenAI has been at the forefront of the rapidly expanding artificial intelligence industry for years, with ChatGPT largely responsible for ushering in this new era of technology. Microsoft was an early believer in the company, investing $1 billion back in 2019 in exchange for becoming OpenAI’s exclusive cloud partner and gaining the right to commercialize its models through Azure. Today, that agreement is changing — marking what could be a seismic shift in the AI landscape.

OpenAI and Microsoft have…



Source link

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.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

As AI companies borrow billions, debt investors grow wary

Investors in the AI-fuelled stock market have largely...

Samsung is not going the LG way, rules out...

New Delhi: Samsung Electronics has ruled out listing...

Indian Startup Funding — Startups Raised $49 Mn This...

SUMMARY Between December 22-26, Indian startups cumulatively managed to...

Popular