tl;dr
OpenAI boss Sam Altman has presented AI services for corporate use to hundreds of Fortune 500 company executives, directly competing with backer Microsoft (MSFT) in some cases, according to Reuters. OpenAI hosted roadshow-like events in San Francisco, New York, and London, addressing more than 100 e...
OpenAI boss Sam Altman has presented AI services for corporate use to hundreds of Fortune 500 company executives, directly competing with backer Microsoft (MSFT) in some cases, according to Reuters. OpenAI hosted roadshow-like events in San Francisco, New York, and London, addressing more than 100 executives in each city. The artificial intelligence company introduced a version of ChatGPT geared towards large businesses last year, aiming to capitalize on business customers seeking to use generative AI tools in the workplace. OpenAI’s Chief Operating Officer Brad Lightcap mentioned that ChatGPT Enterprise had more than 600,000 users, up from around 150,000 in January, in an interview with Bloomberg last week. Microsoft (MSFT) offers enterprises access to ChatGPT via Azure OpenAI and Microsoft 365 Copilot, incorporating the technology into many of its products. OpenAI executives highlighted a range of applications including call-center management and translation for industries including finance, healthcare, and energy, assuring customers that their data would not be used to train its models. Some executives questioned the need to pay for ChatGPT Enterprise if they are already Microsoft customers, to which Altman and Lightcap replied that paying for the enterprise service would provide more opportunities to work with the OpenAI team directly and offer customized AI products. OpenAI was valued at roughly $80 billion in September and surpassed a $1 billion revenue run rate in August 2023. Microsoft announced a multi-billion dollar investment in OpenAI in January 2023, shortly after the company's ChatGPT gained significant traction.
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company known for its production of computer software, consumer electronics, personal computers, and related services. Its notable software products include the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. The company's flagship hardware products include 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 and 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
Revenue: $317.97 billion
Current Price: $38.76
Change: $2.86
Change(%): 11.04%
Volume: 30.61 million
Market Cap: 363 billion
PE Ratio: 227.58
EPS: $4.45
Dividend Yield: 0.332
Beta: 0.176
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