OpenAI is once again undergoing a major transformation. With the support of Microsoft, the AI company behind ChatGPT will receive a new legal structure that may radically change the future of artificial intelligence (AI). At the same time, Microsoft cashes in on its billion-dollar investment, but has to give up some exclusive rights.
OpenAI will be a partly commercial mission organization
In an official blog, OpenAI announced that it will now operate as a so-called public benefit corporation (PBC). This is a hybrid legal structure in the United States in which companies are allowed to make a profit, but also have to pursue a social goal. According to OpenAI, this form offers more room to raise capital and enter into new partnerships, including outside Microsoft.
When OpenAI was founded in 2015, with Elon Musk as co-founder, it was still a non-profit organization. This changed in 2019 with the arrival of a commercial branch. It worked with a ‘capped profit’ model: investors were allowed to make a profit, but up to a fixed maximum. In this way, OpenAI tried to attract money without abandoning its ideals.
Microsoft’s investment is now officially worth $135 billion
The restructuring not only provides more freedom for OpenAI, but also a huge valuation: $500 billion. Microsoft has now officially valued its stake in it at $135 billion. That is almost ten times as much as the original investment of 13.8 billion.
Yet it is not just profit. Microsoft is losing a number of exclusive rights. For example, it can no longer be first in line for future cloud deals with OpenAI. In return, OpenAI promises to purchase $250 billion worth of cloud services from Microsoft.
However, Microsoft will continue to have exclusive access to OpenAI’s most advanced AI models, the so-called ‘frontier models’, until at least 2032. They may also continue to work independently on artificial general intelligence (AGI), with or without the help of OpenAI.
New AI browser raises security concerns
As if that wasn’t enough, OpenAI also presented a new AI browser last week: Atlas. This smart browser can remember what you do and even perform tasks independently via a built-in ‘agent mode’.
But that entails risks. According to experts, Atlas is susceptible to so-called prompt injection attacks. This could give hackers access to personal data — or worse: your crypto wallet. The advice is clear: do not use Atlas for crypto transactions for the time being.
Source: https://newsbit.nl/microsoft-bevestigt-we-hebben-27-procent-van-openai-in-handen/
