Microsoft Forges $10B Investment Deal With ChatGPT-Maker OpenAI: Bloomberg - Microsoft (NASDAQ:MSFT)

Microsoft Corp MSFT shared a new multiyear, multibillion-dollar investment with ChatGPT-maker OpenAI.
It is investing $10 billion in OpenAI, Bloomberg reports.
The deal followed its previous investments in 2019 and 2021.
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It extends Microsoft's ongoing collaboration across artificial intelligence supercomputing and research and commercializes the resulting advanced AI technologies.
Microsoft Chair and CEO Satya Nadella told Bloomberg, "In this next phase of our partnership, developers and organizations across industries will have access to the best AI infrastructure, models, and toolchain with Azure to build and run their applications."
Microsoft already plowed $1 billion into OpenAI in 2019 and reinvested in 2021.
Since 2016, Microsoft has committed to building Azure into an AI supercomputer for the world.
Last week, Microsoft granted more customers access to the software behind popular AI tools made by OpenAI.
OpenAI grabbed eyeballs courtesy of its chatbot ChatGPT, adept at answering questions and writing essays and poems, and image generator Dall-E 2, which turns language prompts into novel images.
OpenAI's tools like GPT-3 are already a rage among some startups like Jasper and Yoodli.
The AI industry will likely trigger a battle among the big cloud hostings providers like Amazon.com Inc AMZN Amazon Web Services, and Alphabet Inc GOOG GOOGL Google Cloud for the preferred cloud provider crown.
Price Action: MSFT shares traded higher by 1.97% at $244.95 on the last check Monday.

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