Amazon in talks to invest $10bn in developer of ChatGPT
PositiveFinancial Markets
- Amazon is reportedly in discussions to invest over $10 billion in OpenAI, the developer behind ChatGPT, as part of the startup's ongoing efforts to secure funding for its extensive data center expenditures. If finalized, this investment could elevate OpenAI's market valuation to over $500 billion.
- This potential investment is significant for OpenAI as it seeks to bolster its financial position amidst increasing competition in the artificial intelligence sector, where it has yet to achieve profitability despite its high valuation and market presence.
- The investment landscape for AI is becoming increasingly competitive, with major players like Microsoft and Nvidia also investing heavily in rival companies. Concerns about a potential AI bubble are growing, as the market grapples with sustainability issues and the pressure of emerging competitors, highlighting the volatile nature of the tech investment climate.
— via World Pulse Now AI Editorial System
