Microsoft's $13 billion investment in OpenAI signals the growing importance of AI startups.
The ChatGPT chatbot was founded in 2015 by a group of researchers, academics, and entrepreneurs, including Sam Altman, Greg Brockman, and Elon Musk.
OpenAI has flourished as a leader in AI development since Musk left in 2018 to avoid a conflict of interest with his other company, which was intensifying its focus on AI. Altman and Brockman remain at OpenAI as CEO and president, respectively.
In late 2022, OpenAI gained popularity due to the release of ChatGPT, a chatbot that mimics human conversation. The company also offers tools for generating images and videos from text prompts. Today, OpenAI generates $3.4 billion in annual revenue and has notable clients such as PwC, Moderna, and Estée Lauder. Microsoft has invested approximately $13 billion in the AI startup.
The success of OpenAI has sparked concerns from regulators and experts about the immense power that AI companies and Big Tech hold over society, as well as the potential stress that the technology could put on our power grid. To learn more, watch the video.
Technology
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