Investment, Valuation and Future Plans Of ChatGPT On January 9, it was reported that Microsoft was in talks with OpenAI, the parent company of ChatGPT, to provide an investment of $10 billion in the firm
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The latest and hottest Artificial Intelligence tool in town, ChatGPT, has garnered traction from the general public and potential investors since its public announcement on December 1, 2022. Still, in its prototype stage, ChatGPT is a natural language processor built on 175 billion parameters and 570 GB of data and coding. Its ability to understand queries and questions and respond in a human-like manner is what has made it a raging sensation.
On January 9, it was reported that Microsoft was in talks with OpenAI, the parent company of ChatGPT, to provide an investment of $10 billion in the firm. The funding will include other venture firms, and if the deal goes through, OpenAI's valuation will jump to a staggering $29 billion from an undisclosed current valuation. The investment will make Satya Nadella-led giant take 75 per cent of the AI startup's profits until the initial investment is recovered. Once that is achieved, Microsoft will control 49%, other investors 49% and OpenAI's parent company OpenAI Inc 2%.
Previously, Microsoft backed OpenAI with capital and credit to use its Azure cloud computing services in 2019. This deal will further allow Microsoft to grow Azure's usage while keeping rivals Amazon Web Services and Google Cloud at bay. It also plans to power its search engine Bing with ChatGPT.
Infosys backed OpenAI during its nascent days in 2015, with its former CEO Vishal Sikka sharing, "Infosys, and I, are a part of this endeavor, and very excited about it…Most of our work is in building and maintaining software systems, and AI will increasingly shape the construction and evolution of intelligent software systems, in all kinds of domains and industries…But beyond business, there is another key reason; our endeavor to do purposeful work. Our founders always believed in this," in his 2015 blog post, OpenAI: AI for all.
So far, OpenAI has raised $1 billion through six funding rounds.
ChatGPT welcomed users free of cost with all available features and reached its full capacity a few days ago. The platform is now back to onboarding new users. On January 11, Greg Brockman, President and Co-founder of OpenAI, announced that the research lab was working on a "ChatGPT Professional", an experimental project and was opening registrations for its waitlist.
