Microsoft's investment into ChatGPT's creator may be the smartest $1 billion ever spent | Business Insider

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Microsoft's investment into ChatGPT's creator may be the smartest $1 billion ever spent

Gil Luria, director of research at DA Davidson, an investment bank, wrote in a note on Wednesday that"Microsoft deserves a premium valuation relative to the market" with its"investment in OpenAI as a source of upside."

Even with the Azure credit bung, OpenAI will need to start spending hard cash on Microsoft's infrastructure eventually, provided the tech giant negotiated exclusivity — ChatGPT has already crossed 1 million users, according to Altman.. DA Davidson expects those levels to increase significantly with the introduction of OpenAI's GPT 4, its next-generation AI model, later this year.

That suggests investors will still look to pile into the hottest AI companies, cementing the value of Microsoft's deal.

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