Amazon to Invest $50 Billion in OpenAI
The AI company is gearing up to go public
Reuters has reported that Amazon is prepared to invest as much as $50 billion in OpenAI’s upcoming funding round. The exact amount of funds may depend on whether OpenAI goes public or reaches an artificial general intelligence (AGI) milestone.
Follow the money:
The report states that Amazon will invest $15 billion upfront, with the other $35 billion to follow upon the initial pubic offering (IPO) or AGI milestone.
SoftBank, the Japanese holding firm, and fellow tech giant Nvidia are both preparing their own $30 billion investments in OpenAI.
OpenAI is eyeing an IPO of $1 trillion.
Background:
OpenAI has made moves into the music industry by integrating Spotify and Apple Music into its AI chatbot, ChatGPT.
Such a massive investment from Amazon would surely involve the music service Amazon Music.
👋 Disclosures & Transparency Block
This article was written with information sourced from Reuters via The Information.
We covered it because it represents a major move regarding AI in the music industry.
