Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Microsoft to expand ChatGPT access as OpenAI investment rumors swirl

Published 01/16/2023, 08:01 PM
Updated 01/17/2023, 05:03 PM
© Reuters. FILE PHOTO: A Microsoft logo is seen on an office building in New York City, U.S. on July 28, 2015. REUTERS/Mike Segar/File Photo

By Jeffrey Dastin

(Reuters) - Microsoft Corp (NASDAQ:MSFT) on Monday said it is widening access to hugely popular software from OpenAI, a startup it is backing whose futuristic ChatGPT chatbot has captivated Silicon Valley.

Microsoft said the startup's tech, which it so far has previewed to its cloud-computing customers in a program it called the Azure OpenAI Service, was now generally available, a distinction that's expected to bring a flood of new usage.

The news comes as Microsoft has looked at adding to the $1 billion stake in OpenAI it announced in 2019, two people familiar with the matter previously told Reuters. The news site Semafor reported earlier this month that Microsoft might invest $10 billion; Microsoft declined to comment on any potential deal.

Public interest in OpenAI surged following its November release of ChatGPT, a text-based chatbot that can draft prose, poetry or even computer code on command. ChatGPT is powered by generative artificial intelligence, which conjures new content after training on vast amounts of data -- tech that Microsoft is letting more customers apply to use.

ChatGPT itself, not just its underlying tech, will soon be available via Microsoft's cloud, it said in a blog post.

Microsoft said it is vetting customers' applications to mitigate potential abuse of the software, and its filters can screen for harmful content users might input or the tech might produce.

The business potential of such software has garnered massive venture-capital investment in startups producing it, at a time funding has otherwise dried up. Already, some companies have used the tech to create marketing content or demonstrate how it could negotiate a cable bill.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Microsoft said CarMax (NYSE:KMX), KPMG and others were using its Azure OpenAI service. Its press release quoted an Al Jazeera vice president as saying the service could help the news organization summarize and translate content.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.