According to sources familiar with the situation, Microsoft Corp. is in talks to invest $10 billion into OpenAI, the company that owns ChatGPT, valuing the San Francisco-based company at $29 billion.
The investment also comes from other venture firms, and in recent weeks, deal documents were circulated to potential investors with the intention of closing the round by the end of 2022.
Elon Musk, the CEO of Tesla Inc., and investor Sam Altman launched OpenAI, which released the ChatGPT chatbot for free public testing on November 30. A chatbot is a piece of software created to replicate human-like dialogue in response to user input.
According to the Semafor study, the funding conditions stipulated that Microsoft would get 75% of OpenAI's income up until the point at which OpenAI had earned back its initial investment from ChatGPT and other businesses like the image creation tool Dall-E.
According to the story, once OpenAI reached that milestone, Microsoft would own a 49% share in the company, followed by 49% from other investors and 2% going to OpenAI's nonprofit parent. However, the exact stakes wouldn't be known until Microsoft received its money back.
Microsoft was working to deploy a version of their search engine Bing utilising the AI underlying ChatGPT after investing $1 billion in OpenAI in 2019.
The tech giant predicts that by 2025, generative AI tools like ChatGPT and Dall-E will have produced 10% of all AI-generated data, up from less than 1% in 2021.
OpenAI's GPT-3.5 model is the foundation of ChatGPT, which has been trained to produce more conversational responses.
ChatGPT makes an effort to respond to users' questions in a more humane way than GPT-3, which essentially guesses what text will come after any given string of words. ChatGPT can converse on a variety of subjects, showing considerable improvements over chatbots seen even a few years ago.
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