OpenAI, the company behind the widely used AI chatbot ChatGPT, is reportedly about to receive a $10 billion investment from Microsoft.
The deal is part of a funding round that would value OpenAI at a staggering $29 billion, Semafor reported Tuesday, citing sources with knowledge of the situation.
Microsoft AI Plan
Semafor claimed that term sheets offered to prospective investors indicated the plan was to consummate the deal by the end of 2022, although it is unclear whether the transaction has been finalized.
Microsoft would apparently receive 75% of OpenAI’s income until it recoups its initial investment, following which it will acquire 49% ownership in the company.
The AI model, a variation of the GPT-3 family of big language models, has been utilized for everything from writing code to undergraduate essays.
Microsoft’s efforts in web search, a market dominated by Google, could be bolstered by an investment in ChatGPT.
The company’s Bing browser has a modest part of the global search engine market, but it is believed that by delivering more complex search capabilities, the transaction will enable the company to challenge Google’s dominance.
AI Chatbot
ChatGPT is the newest offering from Elon Musk and Sam Altman’s business OpenAI.
The application is based on OpenAI’s GPT-3.5 language mode, a 2020-released, updated version of the model.
The program allows users to enter a question, request, or prompt. The ChatGPT will then answer as a person would.
People have started utilizing this tool to compose poems as well as open messages for dating applications. You can also utilize ChatGPT for fun and practical purposes, such as asking follow-up questions and giving the program complex instructions to follow.
OpenAI has secured $1 billion in funding from Microsoft and other companies. It has often declared that it is committed to developing AI for human safety.
ChatGPT is quite limited but competent enough in certain areas to offer a false appearance of brilliance. It is a mistake to rely on it for anything significant at this time. It is a preview of our progress; we have a great deal of work to do on robustness and veracity.
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