tl;dr
OpenAI, the AI startup backed by Microsoft (NASDAQ:MSFT), is launching Custom Model to help enterprise customers create their own generative AI models using new tools and APIs. The initiative aims to improve model performance for specific tasks and allow customization at scale. According to OpenAI...
OpenAI, the AI startup backed by Microsoft (NASDAQ:MSFT), is launching Custom Model to help enterprise customers create their own generative AI models using new tools and APIs. The initiative aims to improve model performance for specific tasks and allow customization at scale. According to OpenAI, Custom Model will assist organizations in setting up efficient training data pipelines, evaluation systems, and personalized parameters to maximize model performance for their specific industry or use case. The company believes that personalized AI models will become the norm for organizations of all sizes in the future. The launch of Custom Model took place at OpenAI's inaugural developer conference in November. Citi mentioned that some of the announcements from the conference could benefit Microsoft's cloud business. OpenAI also introduced new features to its GPT-3.5 model, including a side-by-side comparison user interface, third-party platform integration support, and improvements to the dashboard. Valued at around $80B in September, OpenAI has been speculated to potentially be worth over $1T in the future. The company achieved a $1B revenue run rate in August 2023, and reports suggest it is nearing $2B in annualized revenue. Microsoft made a multi-billion dollar investment in OpenAI in January 2023, shortly after the success of ChatGPT, OpenAI's leading product.
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company that produces computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue; it was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Industry: Technology
Sector: Services-Prepackaged Software
Market Cap: 313.12B
Current Price: $38.15
Change: $2.86
Change (%): 11.02%
52-Week Range: $30.61 - $0.363
Volume: 227,583,001
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PE Ratio (TTM): 0.332
EPS (TTM): 0.176
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