Microsoft confirms OpenAI investment but stays silent on how much it spent
Proactive Investors
Published Jan 24, 2023 07:58
Updated Jan 24, 2023 09:12
Microsoft confirms OpenAI investment but stays silent on how much it spent
Proactive Investors - Confirming what had been widely speculated, Microsoft Corporation (NASDAQ:MSFT) has announced a new multiyear, multibillion-dollar investment with OpenAI, the company behind the viral text generator, ChatGPT.
While the veil was lifted on the decision to renew its financial backing, the tech giant was unwilling to confirm the exact amount it pumped in – the figure is widely speculated to be US$10bn.
This fact notwithstanding, it marks the third time Microsoft has participated in an OpenAI funding round, having staked cash in 2019 and then in 2021.
According to reports, the renewed partnership aims to accelerate breakthroughs in AI and help both companies commercialise advanced technologies in the future.
OpenAI works closely with Microsoft’s cloud service, Azure, and the investment will also help the two companies engage in supercomputing at scale and create new AI-powered experiences.
OpenAI’s founders included Sam Altman, Tesla and SpaceX CEO Elon Musk, Greg Brockman, Ilya Sutskever, Wojciech Zaremba and John Schulman.
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