Microsoft backs Money Truck for ChatGPT’s OpenAI

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Microsoft is making a “multi-billion dollar investment” in OpenAI. He invested $1 billion in the creator of ChatGPT in 2019 and reportedly planned an investment of $10 billion. Microsoft was among the big tech companies that announced massive layoffs this month. Something is loading.

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Microsoft backs the money truck for the creator of ChatGPT.

OpenAI, the company behind the famous ChatGPT large-language model bot, is getting billions and a longer-term boost from Microsoft.

The ChatGPT maker said on Monday that the companies are “extending our partnership” and that the “multi-billion dollar” investment follows Microsoft’s support of the company since 2019, when it invested $1 billion in the artificial intelligence company.

OpenAI said in a post that the investment “will allow us to continue our independent research and develop increasingly safe, useful and powerful AI.”

Microsoft, whose shares rose slightly after the news, planned to invest some $10 billion in OpenAI in a deal that would direct some of the startup’s profits to the tech giant, according to a Semafor report earlier this week. this month. OpenAI did not disclose further details about the investment.

OpenAI has described itself as a “capped profit” company, intended to help raise funds by giving investors a portion of the profits, according to the company. OpenAI also tries hard to charge users for some ChatGPT features.

“This structure allows us to raise the capital we need to fulfill our mission without sacrificing our core beliefs about benefit sharing and the need to put safety first,” the company said.

OpenAI’s ChatGPT bot has become hugely popular since becoming available for public use in late November, with users posting snippets of their conversations asking it to do all kinds of things, from suggesting recipes to writing of poems.

It has also sparked a debate about the extent to which AI bots can replace human writing and, with that, concerns about how to detect ChatGPT-assisted plagiarism.

Microsoft’s major investment in the company follows CEO Satya Nadella’s announcement that it plans to lay off 10,000 employees this year, joining the wave of big tech layoffs in 2023.

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