Submitted by Neurogence t3_znt9el in singularity
>The research organization, co-founded by Elon Musk and investor Sam Altman and backed by $1 billion in funding from Microsoft Corp (MSFT.O), is expecting its business to surge.
>Three sources briefed on OpenAI's recent pitch to investors said the organization expects $200 million in revenue next year and $1 billion by 2024.
>The forecast, first reported by Reuters, represents how some in Silicon Valley are betting the underlying technology will go far beyond splashy and sometimes flawed public demos.
>Microsoft, providing OpenAI capital and computing power for its software, is a beneficiary. Asked about ChatGPT and whether Microsoft viewed such technology as experimental or strategic, its President Brad Smith told Reuters that AI has progressed faster than many predicted.
>We're going to see advances in 2023 that people two years ago would have expected in 2033. It's going to be extremely important not just for Microsoft's future, but for everyone's future," he said in an interview this week.
Seems that Microsoft is going all in on OpenAI.
I'm not convinced that LLM's will lead to AGI, but very excited to see if GPT4 can meet the hype.