The University of Michigan could profit big from a years-old $20 million investment into ChatGPT creator OpenAI, according to an exhibit in Elon Musk’s federal lawsuit against Sam Altman.
Business Insider reported on Friday, May 8, that the Ann Arbor institution made the early bet before Microsoft invested billions into OpenAI ― its first billion in 2019 ― and before ChatGPT debuted in November 2022, setting the pace for the industry’s meteoric growth and commercialization of artificial intelligence.
Some details remain unclear. According to the report, UM and other first-in-line investors would be prioritized over Microsoft in OpenAI’s payout ― the $20 million contribution marking a recoup goal of $2 billion for the university’s endowment…