Microsoft Inc,(NASDAQ:MSFT) is planning to invest in OpenAI, the creator of ChatGPT & GPT3 language models. Reports mentions, they are planning to integrate ChatGPT in Bing.com.

OpenAI is an artificial intelligence research laboratory consisting of the for-profit corporation OpenAI LP and its parent company, the non-profit OpenAI Inc. The company conducts research in the field of AI with the stated goal of promoting and developing friendly AI in a way that benefits humanity as a whole. With popularity of ChatGPT an AI based automated integration system build for answering general intelligence questions applied to multiple domains like finance, healtcare, world news, markets and more.

As strategic investment, Microsoft as per reports poured investments of nearly $1b through a mix of cash and cloud credits into OpenAI, Inc in the year 2019 for new development. 

According to Semafor, the money, which will also include other venture capital firms, will put a $29 billion value on OpenAI. Microsoft is anticipated to receive approximately 75% of OpenAI's income up until the company recovers its initial investment as part of the funding, which is part of a "complex agreement."

Microsoft will own around 49% of OpenAI after recoupment, while other investors will own the remaining 49%, and OpenAI's nonprofit parent will own the remaining 2%. But it's not apparent whether the agreement has been settled.

Source: Reuters

Image Source: openai.ai