9/28/2023 0 Comments Synthesia stock priceMicrosoft this year has looked at adding to its stake, two other sources told Reuters and the Wall Street Journal previously reported. OpenAI wanted to safeguard its mission by limiting backers' returns to 100 times their investment, or less in the future. Certain large venture-capital firms passed on backing OpenAI this year, questioning if it could justify a higher valuation or compete with rivals like Alphabet Inc-owned Google, sources familiar with its fundraise attempt who did not invest said.Ī "capped-profit" structure that OpenAI created in 2019 also represented an unusual restriction for venture capital. It's going to be extremely important not just for Microsoft's future, but for everyone's future," he said in an interview this week. "We're going to see advances in 2023 that people two years ago would have expected in 2033. 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. Microsoft, providing OpenAI capital and computing power for its software, is a beneficiary. OpenAI has also attracted attention as an AI provider and potential Google search competitor, with ChatGPT answering queries for more than 1 million users so far. In a taste of what's to come, startups including Synthesia and Jasper, the latter having relied on OpenAI's tech, have drawn Fortune 500 companies to use their video-generation or AI copywriting tools, according to their websites. The company, which started releasing commercial products in 2020, has said its mission remains advancing AI safely for humanity. 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.Ī spokesperson for OpenAI declined to comment on its financials and strategy. The startup has already inspired rivals and companies building applications atop its generative AI software, which includes the image maker DALL-E 2. OpenAI was most recently valued at $20 billion in a secondary share sale, one of the sources said. The forecast, first reported by Reuters, represents how some in Silicon Valley are betting the underlying technology will go far beyond splashy and sometimes flawed public demos.
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