Microsoft Corp is in discussions to invest $10 billion in the company that owns ChatGPT, OpenAI, valuing the San Francisco-based firm at $29 billion, according to Reuters quoting a Semafor report.

The funding conditions stipulated that Microsoft would get 75 per cent of OpenAI's income up until the point at which OpenAI had earned back its initial investment from ChatGPT and other businesses like the image creation tool Dall-E, a Semafor report showed, according to Reuters.

Once OpenAI reached that milestone, Microsoft would own a 49 per cent share in the company, followed by 49 per cent from other investors and 2 per cent to OpenAI's nonprofit parent.

Also Read|&nbsp;<a href="www.wionews.com/business-economy/disney-ceo-bob-iger-orders-employees-to-return-to-office-four-days-a-week-550868">Disney CEO Bob Iger orders employees to return to office four days a week</a>

However, the exact stakes wouldn't be known until Microsoft received its money back, said the report.

The latest news comes after investment from other venture firms. In recent weeks, deal documents were circulated to potential investors to close the funding round by the end of 2022, said Reuters referring to the Semafor article.

Indeed, the latest Microsoft news comes after a Wall Street Journal story showed that OpenAI was discussing selling its current stock to venture capital firms, including Thrive Capital and Founders Fund, for an estimated $29 billion valuation.

Watch|&nbsp;Apple's iPhone exports from India surpass $2.5 billion

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Elon Musk, the CEO of Tesla Inc., and investor Sam Altman launched OpenAI, which released the ChatGPT chatbot for free public testing on November 30. Since then, the text-based artificial intelligence chatbot platform in November, ChatGPT, has been widely popular.

A chatbot is software created to replicate human-like dialogue in response to user input.

According to media reports, analysts are speculating whether AI chatbots will challenge Google's hegemony one day. Some Google employees reportedly wonder if they lost a chance given the company's long history of boasting about its AI competence.

Reuters reported that OpenAI did not immediately respond to the request for comment, while Microsoft declined to do so.

(With inputs from agencies) 
&nbsp;

WATCH WION LIVE HERE

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Microsoft Corp is in discussions to invest $10 billion in the company that owns ChatGPT, OpenAI, valuing the San Francisco-based firm at $29 billion, according to Reuters quoting a Semafor report.

Microsoft Corp is in discussions to invest $10 billion in the company that owns ChatGPT, OpenAI, valuing the San Francisco-based firm at $29 billion, according to Reuters quoting a Semafor report. The funding conditions stipulated that Microsoft would get 75 per cent of OpenAI's income up until the point at which OpenAI had earned back its initial investment from ChatGPT and other businesses like the image creation tool Dall-E, a Semafor report showed, according to Reuters. Once OpenAI reached that milestone, Microsoft would own a 49 per cent share in the company, followed by 49 per cent from other investors and 2 per cent to OpenAI's nonprofit parent. Also Read| Disney CEO Bob Iger orders employees to return to office four days a week However, the exact stakes wouldn't be known until Microsoft received its money back, said the report. The latest news comes after investment from other venture firms. In recent weeks, deal documents were circulated to potential investors to close the funding round by the end of 2022, said Reuters referring to the Semafor article. Indeed, the latest Microsoft news comes after a Wall Street Journal story showed that OpenAI was discussing selling its current stock to venture capital firms, including Thrive Capital and Founders Fund, for an estimated $29 billion valuation. Watch| Apple's iPhone exports from India surpass $2.5 billion Elon Musk, the CEO of Tesla Inc., and investor Sam Altman launched OpenAI, which released the ChatGPT chatbot for free public testing on November 30. Since then, the text-based artificial intelligence chatbot platform in November, ChatGPT, has been widely popular. A chatbot is software created to replicate human-like dialogue in response to user input. According to media reports, analysts are speculating whether AI chatbots will challenge Google's hegemony one day. Some Google employees reportedly wonder if they lost a chance given the company's long history of boasting about its AI competence. Reuters reported that OpenAI did not immediately respond to the request for comment, while Microsoft declined to do so. (With inputs from agencies) WATCH WION LIVE HERE

Microsoft set to invest $10 billion in OpenAI, valuing the ChatGPT software firm at $29 billion: Report

Indonesian President Joko Widodo met on Monday (January 9) with Malaysian Prime Minister Anwar Ibrahim and discussed the development of Indonesia's planned new capital, Nusantara, during bilateral talks.

Malaysia PM begins first state visit & meets Indonesian President

Carmaker Ferrari is looking to snub 'engines' to woo 'Electrics'. It will invest billions with an aim to shift to zero-emission models. It is currently working with the battery makers.

Expensive shift to zero-emission models: Ferrari snubs 'engines' to woo 'Electrics'

Numerous people are always on the lookout for great investment options. Some of these people invest in shares while some find gold to be more rewarding. &nbsp;&nbsp;

But if a new study is to be believed, buying Lego sets can actually be more profitable. &nbsp;

The study, which was published on last Friday, said that shopping for Lego sets can be a great way to build a sound investment portfolio. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/for-the-first-time-in-39-years-inflation-surged-by-68-in-the-us-435978" hreflang="en">For the first time in 39 years, Inflation surged by 6.8% in the US</a>

The researchers at the Higher School of Economics in Russia, who conducted the study, found that there could be profitable gains made from investing in "more unusual goods whose purchase might seem less serious" like Lego sets, Barbie dolls, etc. &nbsp;

Victoria Dobrynskaya, associate professor, economic sciences, HSE University, said, "We are used to thinking that people buy such items as jewellery, antiques or artworks as an investment.” &nbsp;

Several deals are conducted on the secondary Lego market. It is a big market, which is not well-known to traditional investors. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/how-bank-regulators-are-trying-to-oust-a-trump-holdover-436058" hreflang="en">How bank regulators are trying to oust a Trump holdover</a>

Factors like a limited production run, a collector special edition and scarcity in market, boost prices of products over the years, found the study. &nbsp;&nbsp;

The average return on Lego sets may be 10%-11% annually, which is more than stocks, bonds or gold. &nbsp;&nbsp;

The value of a Lego set is only worthwhile if it has been kept for more than three years. &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

Numerous people are always on the lookout for great investment options. Some of these people invest in shares while some find gold to be more rewarding. But if a new study is to be believed, buying Lego sets can actually be more profitable.

Numerous people are always on the lookout for great investment options. Some of these people invest in shares while some find gold to be more rewarding. But if a new study is to be believed, buying Lego sets can actually be more profitable. The study, which was published on last Friday, said that shopping for Lego sets can be a great way to build a sound investment portfolio. Also Read: For the first time in 39 years, Inflation surged by 6.8% in the US The researchers at the Higher School of Economics in Russia, who conducted the study, found that there could be profitable gains made from investing in "more unusual goods whose purchase might seem less serious" like Lego sets, Barbie dolls, etc. Victoria Dobrynskaya, associate professor, economic sciences, HSE University, said, "We are used to thinking that people buy such items as jewellery, antiques or artworks as an investment.” Several deals are conducted on the secondary Lego market. It is a big market, which is not well-known to traditional investors. Also Read: How bank regulators are trying to oust a Trump holdover Factors like a limited production run, a collector special edition and scarcity in market, boost prices of products over the years, found the study. The average return on Lego sets may be 10%-11% annually, which is more than stocks, bonds or gold. The value of a Lego set is only worthwhile if it has been kept for more than three years. (With inputs from agencies)

Invest in Lego, not gold to get more returns, says study

Is there someone who still have not heard about Bitcoin? Or is there someone whose heartbeat hasn&rsquo;t skipped when they heard about the jump in prices of the Bitcoin?

I was reading an article about Mr Kristoffer Koch who invested around $27 in 2009 to buy 5000 bitcoins and in 2017 those bitcoins would be worth $86899725, that&rsquo;s a return of around of more than 4,000,000 per cent in less than 8 years.

If you search back in history, you won&rsquo;t find lot many investments which would have given such yields in such a short span of time. Courtesy his $27 investment,&nbsp;Mr Krishoffer now doesn&rsquo;t need to work ever, and he says that he invested while he was writing a paper on the topic without putting too much thought into it.

So, how many of you are planning to invest? In this article, I want to talk about why I believe Bitcoin is interesting and it&rsquo;s going to stay and, yet, I would stay away from investing in it.

What is Bitcoin: Bitcoin is a cryptocurrency invented in year 2008/2009 by a guy named Satoshi Nakamoto (no one has met him till date). The whole infrastructure of Bitcoin is based on the algorithm, miners, exchanges and the wallets.

So, in short &ndash; Bitcoin is just another currency system but it is not like any other system working currently. I will be talking in detail about cryptocurrency, the role each of these players plays and how to really understand cryptocurrency in the coming weeks.

&nbsp;

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/3-20171220083306.png" />
<div class="media-description">
Benefits of Bitcoin. (Others)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

Problem with our current payment system:

Our current payment system is based on Fiat Currency, i.e. it is based on a system where we trust some central authority and because it says so, we accept that the value of money.&nbsp;

Now, while Fiat Currency is just 100 years old, the world is changing rapidly and somehow our Fiat Currency is not able to keep pace with the current requirements and Bitcoin is able to exploit these shortcomings.

For example, over the years, more and more transactions have started happening digital and because these deals are happening virtually, we need a 3rd party to authenticate it. However, with more and more transactions happening over the internet, the banks become the main authority to authenticate these transactions through maintaining a track or ledger.

Moreover, every time you transact, you are passing your information to the bank which it can use to formulate a complete map of your financial health and a lot of people don&rsquo;t want the bank to have all their financial information.

Secondly, Fiat Currency gave enormous power to the governments to print the money at their will which leads to another problem of hyperinflation.

In fact, in the short of history of 100 years, there have been 55 instances of hyperinflation. The most recent example is in 2008 when it was losing half its value in 25 hours. One of the worst was the hyperinflation in Zimbabwe where the value of currency went below a toilet paper itself.

Nationalistic in nature: If you are travelling from one country to another, you need to purchase the currency of the country you are visiting. According to 2015 figures, 6 trillion dollars of ForEx transactions happens every year. If we put a fees of half a percent over 15 per cent&nbsp;(varies based on banks and corporations), then a lot of money just goes only for&nbsp;transacting your money. Moreover, because of transaction charges, it gets very cumbersome to transact small amount of money.

So, if you see there are three main issues with the current set of payment systems:

<ul>
	<li>Hyperinflation</li>
	<li>Nationalistic in nature while the society is becoming globalised.</li>
	<li>Loss of identity in every transaction.</li>
</ul>

Moreover, if you look closely you will understand that all three are serious issues and we do require some better currency and &lsquo;Bitcoin&rsquo; came at the right time to solve all these issues.

Bitcoin is a global currency, thus, you can transact from any country to another country without any currency conversion. It is limited in number, therefore, while its price will increase, there won&rsquo;t ever be hyperinflation as no one can print it infinitely.&nbsp;

Lastly, Satoshi has built a powerful infrastructure at the backend and an incentive mechanism for the miners, due to which, we don&rsquo;t need any 3rd party to keep a record of our transactions.

Isn&rsquo;t Bitcoin just great? If I am so much optimistic about Bitcoin, then why I won&rsquo;t invest?

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/2-20171220083131.jpg" />
<div class="media-description">
Examining Bitcoin for Ponzi scheme signs. (Others)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

Few of the reasons for not investing:

Too much optimistic: Whenever I invest in a company&rsquo;s stock, I always ask myself &lsquo;how much price is due to optimistic nature of people&rsquo;. While people have already compared it to next big development after the Internet, I believe they have valued it way too higher. I say so because the inherent benefits of Bitcoin are also the biggest concerns, which stops it from becoming a mainstream currency.

For example: If no one has the information of the transactions i.e. where the money is moving then it creates a lot of issues. For example, A big usage of Bitcoin currently happens on the Deep Web where people do want to hide their credentials.

Moreover, governments do like to have some control over the finances of the people to stop them from doing something illegal i.e. funding child pornography or terrorism.

Multiple cryptocurrencies: While there are still a lot of questions to be answered, one of the big questions is whether we will all work on a single cryptocurrency or multiple cryptocurrencies and if we decide to work with single cryptocurrency, then which one to choose and who is going to decide that currency. Will it be some Central Government? And if we leave it to the public, then every time a price of a cryptocurrency goes beyond the roof, we will jump to the other one with less value and which will eventually again pop up the problem of conversion of cryptocurrencies.

4,000,000 per cent :&nbsp;People are still saying that Bitcoin can go higher because of its limited number. There is only 21 million bitcoin that can be mined, however, it is more becoming more like Ponzi schemes.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/1-20171220083034.png" />
<div class="media-description">
Bitcoin market price fluctuations (Others)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

In a similar fashion to a Ponzi Scheme, the people who invested in the initial days would surely benefit as the value has risen through time. The people at the bottom (or who will enter last) will get hurt the most as they will buy at a premium and the value will drop drastically when it comes to its real value.

Therefore, my suggestion would be it&rsquo;s good to be informed about Bitcoin and cryptocurrency as they are making the noise for the right reason, however, it&rsquo;s also important to understand the true value of any product and not to invest just because everyone else is talking about it or investing into it.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

Investors need to understand the true value of any product and not to invest just because everyone else is talking/investing in it

Is there someone who still have not heard about Bitcoin? Or is there someone whose heartbeat hasn’t skipped when they heard about the jump in prices of the Bitcoin? I was reading an article about Mr Kristoffer Koch who invested around $27 in 2009 to buy 5000 bitcoins and in 2017 those bitcoins would be worth $86899725, that’s a return of around of more than 4,000,000 per cent in less than 8 years. If you search back in history, you won’t find lot many investments which would have given such yields in such a short span of time. Courtesy his $27 investment, Mr Krishoffer now doesn’t need to work ever, and he says that he invested while he was writing a paper on the topic without putting too much thought into it. So, how many of you are planning to invest? In this article, I want to talk about why I believe Bitcoin is interesting and it’s going to stay and, yet, I would stay away from investing in it. What is Bitcoin: Bitcoin is a cryptocurrency invented in year 2008/2009 by a guy named Satoshi Nakamoto (no one has met him till date). The whole infrastructure of Bitcoin is based on the algorithm, miners, exchanges and the wallets. So, in short – Bitcoin is just another currency system but it is not like any other system working currently. I will be talking in detail about cryptocurrency, the role each of these players plays and how to really understand cryptocurrency in the coming weeks. Benefits of Bitcoin. (Others) × Problem with our current payment system: Our current payment system is based on Fiat Currency, i.e. it is based on a system where we trust some central authority and because it says so, we accept that the value of money. Now, while Fiat Currency is just 100 years old, the world is changing rapidly and somehow our Fiat Currency is not able to keep pace with the current requirements and Bitcoin is able to exploit these shortcomings. For example, over the years, more and more transactions have started happening digital and because these deals are happening virtually, we need a 3rd party to authenticate it. However, with more and more transactions happening over the internet, the banks become the main authority to authenticate these transactions through maintaining a track or ledger. Moreover, every time you transact, you are passing your information to the bank which it can use to formulate a complete map of your financial health and a lot of people don’t want the bank to have all their financial information. Secondly, Fiat Currency gave enormous power to the governments to print the money at their will which leads to another problem of hyperinflation. In fact, in the short of history of 100 years, there have been 55 instances of hyperinflation. The most recent example is in 2008 when it was losing half its value in 25 hours. One of the worst was the hyperinflation in Zimbabwe where the value of currency went below a toilet paper itself. Nationalistic in nature: If you are travelling from one country to another, you need to purchase the currency of the country you are visiting. According to 2015 figures, 6 trillion dollars of ForEx transactions happens every year. If we put a fees of half a percent over 15 per cent (varies based on banks and corporations), then a lot of money just goes only for transacting your money. Moreover, because of transaction charges, it gets very cumbersome to transact small amount of money. So, if you see there are three main issues with the current set of payment systems: Hyperinflation Nationalistic in nature while the society is becoming globalised. Loss of identity in every transaction. Moreover, if you look closely you will understand that all three are serious issues and we do require some better currency and ‘Bitcoin’ came at the right time to solve all these issues. Bitcoin is a global currency, thus, you can transact from any country to another country without any currency conversion. It is limited in number, therefore, while its price will increase, there won’t ever be hyperinflation as no one can print it infinitely. Lastly, Satoshi has built a powerful infrastructure at the backend and an incentive mechanism for the miners, due to which, we don’t need any 3rd party to keep a record of our transactions. Isn’t Bitcoin just great? If I am so much optimistic about Bitcoin, then why I won’t invest? Examining Bitcoin for Ponzi scheme signs. (Others) × Few of the reasons for not investing: Too much optimistic: Whenever I invest in a company’s stock, I always ask myself ‘how much price is due to optimistic nature of people’. While people have already compared it to next big development after the Internet, I believe they have valued it way too higher. I say so because the inherent benefits of Bitcoin are also the biggest concerns, which stops it from becoming a mainstream currency. For example: If no one has the information of the transactions i.e. where the money is moving then it creates a lot of issues. For example, A big usage of Bitcoin currently happens on the Deep Web where people do want to hide their credentials. Moreover, governments do like to have some control over the finances of the people to stop them from doing something illegal i.e. funding child pornography or terrorism. Multiple cryptocurrencies: While there are still a lot of questions to be answered, one of the big questions is whether we will all work on a single cryptocurrency or multiple cryptocurrencies and if we decide to work with single cryptocurrency, then which one to choose and who is going to decide that currency. Will it be some Central Government? And if we leave it to the public, then every time a price of a cryptocurrency goes beyond the roof, we will jump to the other one with less value and which will eventually again pop up the problem of conversion of cryptocurrencies. 4,000,000 per cent : People are still saying that Bitcoin can go higher because of its limited number. There is only 21 million bitcoin that can be mined, however, it is more becoming more like Ponzi schemes. Bitcoin market price fluctuations (Others) × In a similar fashion to a Ponzi Scheme, the people who invested in the initial days would surely benefit as the value has risen through time. The people at the bottom (or who will enter last) will get hurt the most as they will buy at a premium and the value will drop drastically when it comes to its real value. Therefore, my suggestion would be it’s good to be informed about Bitcoin and cryptocurrency as they are making the noise for the right reason, however, it’s also important to understand the true value of any product and not to invest just because everyone else is talking about it or investing into it. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

Opinion: Bitcoin is interesting but not worth investing

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