The owners and operators of Chat GPT are reportedly in talks with Microsoft. It increases the value of the company to $29 billion once the $10 billion deal is completed.
Microsoft officials are reportedly in talks with the owners of Chat GPT. It has been revealed that Microsoft plans to invest about $10 billion in chat GPT AI technology. Once the deal closes, Chat GPT will be valued at a whopping $29 billion.
Other venture capital firms are also reportedly interested in funding the innovative Chat GPT. Open AI, the owner of Chat GPT, has sent the deal to potential investors, hoping to complete the investment round by 2022. Microsoft and Chat GPT have yet to issue an official statement on the matter.
According to a recent Wall Street Journal article, OpenAI was considering selling its existing stake at his $29 billion valuation. In this investment round, a large company buys shares from existing shareholders at a premium.
Founded by investor Sam Altman and Twitter CEO Elon Musk, Chat GPT is one of his most innovative AI chatbots. Unlike many other chatbots, Chat GPT can handle complex tasks such as creating website applications, creating assignments, and creating interesting stories. Chat GPT is currently in public testing and available for free.
It is estimated that Microsoft will acquire approximately 49% stake in Open AI, and other investment firms will acquire the remaining 49% stake. The parent company of nonprofit Open AI owns 2% of him.
This is not the first time Microsoft has invested in Open AI, in 2019 Microsoft invested nearly $1 billion to build a new version of the Bing search engine using a version of Chap GPT-AI technology.