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00:02Amazon is in talks to invest more than $10 billion in OpenAI,
00:06a deal that could value the chat GPT developer above $500 billion, according to The Guardian.
00:13Amazon is the world's largest data center provider,
00:16and its investment would help OpenAI pay for cloud capacity commitments,
00:20including those with Amazon.
00:21OpenAI last month said it would spend $38 billion over seven years on capacity from Amazon Web Services.
00:28OpenAI has committed $1.4 trillion over the next eight years on compute spending,
00:33far exceeding its reported $13 billion in annual revenue.
00:37The company is seeking additional funding and has converted its main business into a for-profit corporation.
00:42Microsoft holds about a 27% stake in a deal that valued OpenAI at $500 billion.
00:48For all things money, visit Benzinga.com.
