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Microsoft is in talks to invest $10 billion into OpenAI, the owner of ChatGPT.
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This will put the San Francisco-based company at $29 billion.
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Semafor, an online news publication, reported Monday that it had received information from people familiar with the subject.
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The funding includes other venture firms and deal documents were sent to prospective investors in recent weeks.
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The report stated that the goal was to close the round by 2022.
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Microsoft did not respond to our request for comment. OpenAI, however, did not immediately reply to our request.
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This news follows a Wall Street Journal report stating that OpenAI was discussing selling its existing shares at a valuation of approximately $29 billion.
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Venture capital firms like Thrive Capital or Founders Fund buy shares from existing shareholders.
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OpenAI was founded by Elon Musk, CEO of Tesla Inc, and Sam Altman, an investor. It made ChatGPT available for public testing.