AI News Investors Probably Missed

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2. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 279

Microsoft Corporation (NASDAQ:MSFT) is a Washington-based technology company. Latest reports, published by The New York Times, reveal that generative AI startup OpenAI expects to lose roughly $5 billion this year, despite generating about $3.7 billion in sales. The losses are thought to be a result of high costs associated with developing and training AI models. Tech giant Microsoft Corporation (NASDAQ:MSFT), which has already pledged billions in funding for the startup, is already making plans to increase this investment in an upcoming funding round for OpenAI. The startup, whose claim to fame is ChatGPT, has plans to generate over $11 billion in revenue next year and up to $100 billion within the next five years. OpenAI intends to do this by hiking monthly membership fees for ChatGPT from $2 to $22, and then to $44 by 2029.

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