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7/22, 3:55 PM (Source: TeleTrader)
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Microsoft to invest $1B in Elon Musk's OpenAI

Microsoft Corp. will invest $1 billion in Elon Musk's artificial intelligence company OpenAI, the two companies announced in a press release on Monday.

Under the terms of the partnership, the pair will jointly build new Azure AI supercomputing technologies and OpenAI, which was co-founded by Musk and current CEO Sam Altman, will port its services to run on Microsoft's cloud platform, which it will use to create new AI technologies and deliver on the promise of artificial general intelligence. Microsoft will also become OpenAI's preferred partner for commercializing new AI technologies. In addition, the companies will focus on building a computational platform in Azure "of unprecedented scale" that will train and run increasingly advanced AI models.

"AI is one of the most transformative technologies of our time and has the potential to help solve many of our world’s most pressing challenges," said Microsoft CEO Satya Nadella. "By bringing together OpenAI’s breakthrough technology with new Azure AI supercomputing technologies, our ambition is to democratize AI - while always keeping AI safety front and center - so everyone can benefit," he added.

Breaking the News / DZ