Microsoft to infuse USD 1 billion in OpenAI

Microsoft Corp said on Monday it was investing USD 1 billion in San Francisco-based OpenAI and that the two had formed a multi-year partnership to develop artificial intelligence supercomputing technologies on Microsoft’s Azure cloud computing service.

OpenAI was founded in 2015 as a nonprofit with USD 1 billion in funding from Silicon Valley investors Sam Altman, Peter Thiel and LinkedIn co-founder Reid Hoffman, among others. Earlier this year, the group created a related for-profit entity to take in outside investment.