Bartis HK - Microsoft-Backed ChatGPT Maker OpenAI unveils a faster & less costly AI model

OpenAI, the manufacturer of ChatGPT, revealed GPT-4 Turbo, its latest and most powerful artificial intelligence model, at its developer conference on Monday, in a move that might help the business stay ahead of the competition from digital behemoths.
CENTRAL, Hong Kong - Nov. 17, 2023 - PRLog -- OpenAI, which is supported by Microsoft (MSFT), said its GPT-4 Turbo, which will be available to clients on Monday, is quicker and cheaper than prior versions. In addition to employing the company's existing AI speech and picture features such as Dall-E 3, GPT-4 Turbo provides information up to April 2023.

According to CEO Sam Altman, there are currently 100 million active weekly ChatGPT users, and more than 90% of Fortune 500 firms utilize OpenAI's products.

While OpenAI provides a free version of ChatGPT on its website, the company also sells premium subscriptions to businesses who pay for additional capabilities. Altman allegedly told employees last month that the firm was on track to generate $1.3 billion in sales this year.

The launching of OpenAI comes as tech titans such as Alphabet (GOOGL), Amazon (AMZN), Meta (META), and X fight for users of AI technologies. Alphabet's Google debuted Bard earlier this year, while Meta has used AI to improve advertising capabilities. Amazon has invested in the AI business Anthropic, while Elon Musk launched X's (previously Twitter) AI tool Grok this week.

The Turbo GPT-4 release coincides with allegations that OpenAI may be aiming to sell existing workers' shares at a $86 billion value, despite Altman previously stating that OpenAI was not contemplating an IPO.

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