Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Tech News

Microsoft to sink $10B into ChatGPT – it’s now robot o’clock

With ChatGPT exploding on the scene, it’s no surprise Microsoft is sinking billions into the tech. How will it improve their *own* company?

chatgpt

Artificial intelligence is ever-growing and here to stay, and Microsoft’s latest move only drives that point home. The tech giant is reportedly in talks to invest $10 billion into OpenAI, owner of the popular chatbot ChatGPT.

We recently shared our thoughts on ChatGPT, noting how some users are comparing it to a human-like Google search. The chatbot can debug code, write a poem, and answer questions using a written voice that mimics human speech.

It’s quite remarkable and feels familiar, like using a virtual assistant such as Siri or Alexa. The responses come quick and are usually delivered in a conversational tone, making the information easier to understand and faster to weed through than rows of Google search results. 

While ChatGPT does have it’s fair share of mistakes and limitations, Microsoft’s funding shows true confidence that the powerful software can learn, grow, and expand to be a powerhouse for those seeking information. This is not the first time Microsoft has invested in AI technology.

Advertisement. Scroll to continue reading.

Back in 2019, they invested $1 billion in to OpenAI, founded by Elon Musk and Sam Altman. Back in 2022 we learned that Microsoft had plans to introduce image-generation software from OpenAI into it’s Bing search engine. A recent report suggests that, by adding ChatGPT to the roster, Microsoft will soon implement the chatbot into Bing as well.

We think this move will provide digestible information for search users and provide a pleasant human-like interaction, which could drive more users over to Microsoft’s search engine, or more likely, offer a more robust experience on Teams or to aide their own internal support teams (hopefully without replacing humans). 

Semafor reports that Microsoft will claim 75% of Open AI’s profits until the initial investment is returned, then maintain a hold of 49% stake in the company. Additional investors would make up another 49%, with OpenAI’s non-profit parent company, Semafor, holding on to just 2%.

OpenAI expects the company to bring in $200 million in revenue next year, and $1 billion by 2024. The Wall Street Journal has reported that the company is in talks to sell off existing shares at a $29 billion valuation, increasing revenue by an additional $300 million.

With such impressive numbers, it’s clear that both OpenAI and Microsoft believe that AI technology development has a prominent place on their companies’ vision boards. The future is here, and it’s robots have clearly received their invitations to the party.

Advertisement. Scroll to continue reading.

Jennifer is a native Houstonian (go Astros!) with a knack for creating digital works of art. She has expansive experience creating content and branded collateral for Fortune 500 companies, as well as small local businesses. When she’s not buried in her laptop, Jennifer is the marketing director for a world championship circuit barbecue cook off team and pet mom to dog (Milo) and Guinea pig (Piggy Smalls).

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Tech News

AI-generated content, like those found from ChatGPT, can often get misused and recycled. OpenAI plans to change that with a new watermark.

Business News

Everyone and their mother (well, many not all mothers as AI is a foreign concept still) has heard of ChatGPT. Could it take over...

Tech News

(TECH NEWS) Audio deepfakes for dead musicians now exist - the power of AI is impressive, but let’s talk about why this is not...

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.