Microsoft Corp. (MSFT. O) is in discussions to invest $10 billion in OpenAI, the company that owns ChatGPT a chatbot, valuing the San Francisco-based company at $29 billion, according to Semafor. A chatbot is a piece of software created to mimic human-like conversation in response to user input.
The funding also comes from other venture firms, and in recent weeks, deal documents were sent to potential investors with the intention of closing the round by the end of 2022, according to the report.
This comes after a Wall Street Journal report claiming that OpenAI was in discussions to sell its existing stock to venture capital firms like Thrive Capital and Founders Fund for an estimated $29 billion valuation.
OpenAI, founded by Tesla Inc (TSLA.O) CEO Elon Musk and investor Sam Altman, made the ChatGPT chatbot available for free public testing on Nov. 30.
