Last Update: January 11, 2023, 11:16 IST
Microsoft is now pushing the ChatGPT application to solve real-life problems.
Microsoft’s $10 billion investment would see it receive 75 percent of OpenAI’s profits “until it recoups its investment.”
Microsoft is planning to pour $10 billion into OpenAI, which owns the popular AI platform called ChatGPT, which would value OpenAI at about $29 billion, media reported Tuesday.
It is still unclear whether the deal has been finalized, but “documents sent to potential investors in recent weeks outlining its terms,” news portal Semaphore reported, citing people familiar with the matter. indicated a targeted closure by the end of 2022″.
Microsoft’s $10 billion investment will give it 75 percent of OpenAI’s profits until it recoups its investment, the report said.
The report claimed, “After that limit is reached, it will revert to a structure that reflects OpenAI’s ownership, with Microsoft holding a 49 percent stake, other investors 49 percent and OpenAI’s non-profit parent The father is getting 2 per cent.”
Microsoft and OpenAI did not comment on the report.
The tech giant had invested $1 billion in OpenAI in 2019.
Opened to the general public last month, ChatGPT has invited users to receive feedback and learn about its strengths and weaknesses.
The AI-powered ChatGPT gives human-like answers to questions and has become very popular on social media, with people asking it to write poetry for essays.
Microsoft is now pushing the ChatGPT application to solve real-life problems.
The tech giant is also adding OpenAI writing technology to Office, which provides users with a way to compose text for projects by incorporating AI technology into its apps.
The company wants to incorporate AI created by OpenAI into Word, Outlook, Powerpoint and other apps, The Information reported.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)