Backing: Microsoft is thought to be investing around £8bn in chat bot firm OpenAI
Microsoft is making a ‘multi-billion-dollar investment’ in chat bot firm OpenAI as the Silicon Valley giant continues its push into artificial intelligence.
Although the exact finances have not been revealed, reports suggest Microsoft will plough in around £8billion in a deal that values OpenAI at £23billion.
Chat bots are computer programmes that are designed to mimic humans in online conversations. They are often used by customer service teams to answer online queries automatically but are becoming increasingly advanced. OpenAI was set up by Elon Musk and owns the ChatGPT chat bot that can do everything from writing essays to debugging code.
Microsoft made its first £808million investment in OpenAI in 2019, but ChatGPT exploded in popularity after it was made free to use in November, crossing 1m active users within the first five days.
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