$10 billion investment of Microsoft in OpenAI, the owner of ChatGPT, valuing the San Francisco-based firm at $29bn.

The report states that the funding was done with the objective to encircle it by the end of 2022 and included other venture firms, by recently sending deal documents to investors. Microsoft refused to say anything about it, although Reuters got a delayed response from OpenAI.

In another report in Wall Street Journal, OpenAI stated that it was recently in contact with renowned working capitals such as Thrive Capital and Founders Fund to sell the existing shares at a value of about $29bn, along with buying shares from existing shareholders.

ChatGPT chatbot was made by OpenAI, which is a software application that enables users to have human-like conversations according to their instructions, and it was made available for free testing on the 30th of November. OpenAI was founded by the CEO of Tesla Inc, Elon Musk, and investor Sam Altman.

It was included in the funding terms that until OpenAI recovers its initial investment and finds ways to earn through ChatGPT and other applications such as image creation tool Dall-E, 75% of its profit will be sent to Microsoft, as stated in the Semafor report.

After reaching that start point, a 49% stake in OpenAI would be given to Microsoft and the other 49% would be possessed by other investors, with the remaining 2% given to the non-profit parent of OpenAI, with no unambiguous information about the stakes until Microsoft recovers its money.

In 2019, Microsoft invested $1bn in OpenAI and was working to launch another search engine of its own, using the AI behind ChatGPT, as stated in a report last week.

Recent News

OpenAI has introduced GPT-4o (omni), a major upgrade to its ChatGPT, now available for free. Announced during a recent event, GPT-4o enhances capabilities in text, vision, and audio, making it a fully multimodal model. Mira Murati, OpenAI’s CTO, highlighted that GPT-4o is significantly faster and offers improved functionality across multiple input forms.

Easypaisa’s innovative ‘Audio Nikahnama’ campaign has achieved significant recognition, winning several accolades at the Caples UK Awards. The campaign earned a bronze in the ‘Not for Profit’ category, a silver in the ‘Mobile’ category, and a gold in the ‘Audio’ category. Rifah Qadri, Head of Marketing & Communications at Easypaisa, became the first Pakistani to receive the prestigious ‘Courageous Client Award’ for her role in the campaign.

Adil Bacha, a student at Engineering University Mardan, has developed an innovative electric wheelchair controlled by brain signals. This groundbreaking invention is designed for patients who have functional brains but are physically paralyzed, allowing them to move independently.