Microsoft Eyes $10B Investment in ChatGPT Developer

Washington Examiner

Microsoft is considering investing up to $10 billion into the developer of a chatbot that can create essay-length answers and solve difficult problems, a consideration reflective of growing interest in the company’s AI products.

The software giant has been meeting with the artificial-intelligence-focused foundation OpenAI with the intent of investing billions into the company following its successful launches of AI image generators and the textbot ChatGPT, according to Semafor. These same investments are being considered at the same time that Microsoft is considering using ChatGPT to enhance its Bing search engine.

The investment could involve other venture firms and would value OpenAI at $29 billion. It remains unclear if the deal has been finalized, but documents sent to investors outlined an intended close at the end of 2022. The valuation echoes similar estimates provided to investors about selling shares for the company.

READ THE FULL STORY

More Breaking News

Latest News

Mortgage Rates Near Six-Month Peak as Bidenomics Burns Through American Buying Power

Jan 2, 20254 min read

U.S. mortgage rates rose to an almost six-month high toward the end of 2024, according to the Mortgage Bankers Association (MBA).

Mexico’s Tariff Move on Apparel Imports Disrupts Supply Chains, Pushes Firms Toward Reshoring in the US

Jan 2, 20254 min read

Just before Christmas, Mexico’s President Claudia Sheinbaum announced a significant increase in tariffs on textiles and apparel imports, along with the end of a "border-skipping" practice, which allowed U.S. e-commerce sellers to bypass tariffs on Chinese goods. The move - part of Mexico's strategy to protect its own domestic textile industry and reduce reliance on Chinese imports - sent ripples through the global supply chain.

The United Football League Announces Its 2025 Season

Jan 2, 20253 min read

The United Football League (UFL) announced its full 2025 game schedule on Thursday, adding that the league's media partners – FOX, ABC, ESPN, ESPN2, FS1, FOX Deportes, and ESPN Deportes – will broadcast all 43 games.

Two Indian Nationals Indicted for Elder Fraud Scheme Targeting Victims Nationwide

Jan 2, 20253 min read

A federal grand jury in Tucson returned an indictment against two Indian nationals - Ahmed Maqbul Syed, 57, and Rupesh Chandra Chintakindi, 27 - over their alleged involvement in a conspiracy to commit money laundering. Syed, in addition to the money laundering charge, was also indicted on a charge of conspiracy to commit wire fraud.

Homelessness Spiked 18 Percent in 2024; Migrants Caused Record Rise

Jan 2, 20254 min read

The number of homeless people in the U.S. reached the highest level recorded in 2024, as more than 770,000 people lived without housing on a single night in January, according to the U.S. Department of Housing and Urban Development’s annual report. The number is an 18% increase from 2023, fueled in part by the surge of migrants illegally entering the U.S. and residing without housing in sanctuary cities, the report noted.