&imwidth=800&imheight=600&format=webp&quality=medium "Disney exits from OpenAI deal? Here's what happened")
American multinational media and entertainment conglomerate Walt Disney, which had earlier taken everyone by surprise for the deal with a $1 billion equity investment in OpenAI and allowing users to make videos and more. With so much hype around the investment, reports have surfaced that the company might have backed out from it.
Did Disney back out from the OpenAI investment deal?
Sora, the AI video-generating app from OpenAI, is closing down, as it announced on social media. The statement read, "We’re saying goodbye to the Sora app. To everyone who created with Sora, shared it, and built community around it: thank you. What you made with Sora mattered, and we know this news is disappointing. We’ll share more soon, including timelines for the app and API and details on preserving your work."
However, the shutdown announcement drew sharp reactions. One user wrote, "We will dance on your grave and sing songs of your demise." Another user wrote, "Why are people happy about this, please?" "The community built around Sora was real, and the work people made was genuinely impressive. Hope the API lives on- the creative potential was only getting started." "I see this as great news! "Less AI slop content!", wrote the third user.
Also Read: Disney seals $1 Billion deal with OpenAI to power next-gen AI content; Here's what we know
The main reason for shutting down might be because of reports of Disney exiting the investment deal it had with Sam Altman's company.
All about the deal of Disney and OpenAI
According to an earlier report by Reuters, the Walt Disney Company was investing $1 billion in OpenAI and will let the startup use characters from the Star Wars, Pixar and Marvel franchises in its Sora AI video generator, a crucial deal that could reshape how Hollywood makes content.
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Reportedly, as per the three-year partnership, it is a pivotal step in Hollywood's embrace of generative artificial intelligence, side-stepping the industry's concerns over the impact of AI on creative jobs and intellectual property rights.
Also Read: Disney channels pulled from YouTube TV
Moreover, alongside the licensing agreement, reportedly, Disney will become a major customer of OpenAI, using its APIs to build new products, tools and experiences, including for Disney+, and deploying ChatGPT for its employees.
