Microsoft To Invest $10B In OpenAI
Microsoft is reportedly in discussion to purchase a 49 per cent stake worth $10 billion in OpenAI, the parent company behind ChatGPT.
ChatGPT is an AI chatbot designed to mimic human-like conversation based on user prompts. It is popular for its ability to engage in human-like conversation with users, provide personalized responses, write essays, and code, and even provide guidance on tasks like cooking among other functionalities.
The funding conditions stipulate Microsoft would acquire a 49 per cent stake of OpenAI, the other 49 per cent shared by other investors. The OpenAI parent nonprofit remains with 2 per cent.
Notably back in 2019, Microsoft reportedly reached an agreement with OpenAI to incorporate some aspects of GPT into Bing as part of its $1 billion investment in the San Francisco-based AI research company. It is set to leverage ChatGPT in its search engine Bing and Office apps like Word, PowerPoint and Outlook. It is reportedly set to introduce ChatGPT to its search engine Bing as earlier as May.
Meanwhile, OpenAI has announced plans to introduce a premium version of the ChatGPT model to users to generate revenue for the company.
ChatGPT Professional will be faster and more reliable. Users of the premium version will face no blackout periods and will have at least double the regular daily limit of messages.
Greg Brokman, Open AI President and Cofounder tweeted: Working on a professional version of ChatGPT; will offer higher limits and faster performance. If interested, please join our waitlist
Greg’s announcement follows OpenAI’s recent January upgrade of the ChatGPT model to make it have a better response across a wide range of topics and improve factuality.