03:29:36 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 12,950,000
Close 2024-02-09 C$ 31.14
Market Cap C$ 403,263,000
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Globe/wire say Microsoft-backed OpenAI hits milestone

2024-02-12 08:34 ET - In the News

The Globe and Mail reports in its Saturday, Feb. 10, edition that Microsoft-backed OpenAI hit the $2-billion revenue milestone in December, the Financial Times reported on Friday, citing two people with knowledge of the artificial-intelligence (AI) start-up's finances (all figures U.S.). A Reuters dispatch to The Globe reports that OpenAI believes it can more than double this figure in 2025, based on strong interest from business customers seeking to use its technology to adopt generative AI tools in the workplace, the report said. Microsoft and OpenAI did not immediately reply to Reuters's request for comment. The company's annualized revenue topped $1.6-billion in December based on strong growth from its ChatGPT product, up from $1.3-billion as of mid-October. Investors have valued the San Francisco-based start-up at more than $80-billion. OpenAI chief executive officer Sam Altman is in talks with investors, including the UAE, to raise financing for a tech initiative to boost the world's chip-building capacity and expand its ability to power AI, among other things, The Wall Street Journal reported late on Thursday.

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