Microsoft Announces New Multibillion-dollar Investment In ChatGPT-maker OpenAI

(RTTNews) - Software giant Microsoft (MSFT) on Monday announced its third investment in OpenAI, the tech company focused on artificial intelligence.

The company announced a new multiyear, multibillion-dollar investment with ChatGPT-maker to "accelerate AI breakthroughs to ensure these benefits are broadly shared with the world."

The agreement follows Microsoft's previous investments in 2019 and 2021.

Although Microsoft didn't reveal financial details about the investment, according to reports the company invested about $10 billion.

Microsoft said the renewed partnership will accelerate breakthroughs in AI and help both companies commercialize advanced technologies in the future.

"We formed our partnership with OpenAI around a shared ambition to responsibly advance cutting-edge AI research and democratize AI as a new technology platform," Microsoft CEO Satya Nadella said in a blog post.

"The past three years of our partnership have been great," said Sam Altman, CEO of OpenAI. "Microsoft shares our values and we are excited to continue our independent research and work toward creating advanced AI that benefits everyone."