OpenAI's Sam Altman Shoots Down Search Engine And GPT-5 Rumors, Teases May 13 Event: 'Some New Stuff…People Will Love'
Portfolio Pulse from Rounak Jain
Sam Altman, CEO of OpenAI, refuted rumors about developing a search engine or launching GPT-5, instead teasing a May 13 event to showcase new projects. Despite speculation about an AI-powered search product to compete with Google, Altman emphasized updates to ChatGPT and GPT-4. Microsoft Corp. (NASDAQ:MSFT), a backer of OpenAI, may see implications from these developments.
May 11, 2024 | 3:08 am
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Microsoft, as a significant backer of OpenAI, could see indirect impacts from the teased updates to ChatGPT and GPT-4, potentially influencing its market positioning and investor sentiment.
Microsoft's association with OpenAI and the anticipation of new updates to ChatGPT and GPT-4 could positively affect Microsoft's stock in the short term. The focus on AI advancements and the potential for new tools or enhancements could drive investor interest and sentiment, given the current market focus on AI technologies. However, without specific details on the updates or their direct impact on Microsoft's offerings, the exact magnitude of the effect remains uncertain.
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