MSFT is reportedly in discussion to invest $10 billion in OpenAI, the company that owns ChatGPT, valuing the San Francisco-based firm at $29 billion.
Launched as a prototype on Nov 30 of the last year, ChatGPT became popular among netizens because of its simple UI and easy approach to solving problems. The chatbot is a software application designed to mimic human-like conversation based on user prompts and can respond to a large range of questions, while imitating human speaking styles.
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.
Once OpenAI reaches that milestone, Microsoft would own a 49% share in the company, followed by 49% from other investors and 2% to OpenAI’s nonprofit parent.
Microsoft is all set to leverage ChatGPT, a new smart chatbot from OpenAI, in its search engine Bing and Office apps like Word, PowerPoint and Outlook. The tool went viral on social media soon after its launch in November 2022, crossing the 1-million-user mark in just a week after it was opened to the public.
Microsoft is neck deep in Chat GPT, this explains a whole lot about why they went so viral
