ChatGPT, an AI-powered program that can answer text prompts like a human, has seen usage grow, encouraging its owner OpenAI to think about monetization.
ChatGPT, the new chatbot that is the talk of Silicon Valley, can spit out haikus, crack jokes in Italian and may soon be the scourge of teachers everywhere facing fake essays generated by the AI-powered technology.The research organization, co-founded by Elon Musk and investor Sam Altman and backed by $1 billion in funding from Microsoft Corp, is expecting its business to surge.
OpenAI was most recently valued at $20 billion in a secondary share sale, one of the sources said. The startup has already inspired rivals and companies building applications atop its generative AI software, which includes the image maker DALL-E 2. OpenAI charges developers licensing its technology about a penny or a little more to generate 20,000 words of text, and about 2 cents to create an image from a written prompt, according to its website.
Microsoft, providing OpenAI capital and computing power for its software, is a beneficiary. Asked about ChatGPT and whether Microsoft viewed such technology as experimental or strategic, its President Brad Smith told Reuters that AI has progressed faster than many predicted. A “capped-profit” structure that OpenAI created in 2019 also represented an unusual restriction for venture capital. OpenAI wanted to safeguard its mission by limiting backers’ returns to 100 times their investment, Others may be doubling down. Microsoft this year has looked at adding to its stake, two other sources told Reuters and the Wall Street Journal previously reported. Its hope is to drive business for Microsoft’s cloud as more enterprises embrace AI.
The caution has created a void that startups have sought to fill. A company called Cohere, run partly by ex-Googlers, is working on commercial products after a $125 million fundraise led by Tiger Global in February. Another, Adept, announced a $65 million raise in April, and Stability AI touted $101 million in funding after the August release of its text-to-image generator.
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