Microsoft, last week, announced the general availability of Azure OpenAI Service.
American multinational tech giant Microsoft on Monday announced a “multibillion dollar investment” in OpenAI, the parent of the wildly popular AI app ChatGPT. While the actual amount and terms of the deal are still unclear, some reports suggest that Microsoft will invest $10 billion in OpenAI.
“We are announcing the third phase of our long-term partnership with OpenAI through a multiyear, multibillion dollar investment to accelerate AI breakthroughs to ensure these benefits are broadly shared with the world,” the company wrote in a blog. Both Microsoft and OpenAI will be able to commercialize the resulting AI technologies.
Earlier in January, Semafor first reported that Microsoft, along with some other firms, is planning to invest $10 billion into OpenAI and will value OpenAI at $29 billion. The tech company headed by Satya Nadella previously invested $1 billion in OpenAI in 2019. According to a report by The New York Times, Microsoft then quietly invested around $2 billion in the following years, taking its total investment to over $3 billion in OpenAI.
The company, last week, announced the general availability of Azure OpenAI Service. The tech major said to soon add OpneAI’s much-viral bot ChatGPT to its cloud service.
Since its release in November last year, OpenAI’s ChatGPT has been a center of excitement for many due to its human-like response. It is a “conversational” AI app that answers “followup questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.”