EU Examines Microsoft Investment In OpenAI
Faizan Hashmi Published January 09, 2024 | 06:50 PM
The European Union's competition regulator said Tuesday it was looking into Microsoft's investment into ChatGPT developer OpenAI to see if it merits further investigation under the bloc's merger rules
Brussels, (APP - UrduPoint / Pakistan Point News - 9th Jan, 2024) The European Union's competition regulator said Tuesday it was looking into Microsoft's investment into ChatGPT developer OpenAI to see if it merits further investigation under the bloc's merger rules.
The European Commission said in a statement it was "checking whether Microsoft's investment in OpenAI might be reviewable under the EU Merger Regulation".
The move is part of efforts by Brussels to make sure its oversight can catch up with the fast-moving world of artificial intelligence and stop major players shutting out competitors.
EU competition Chief Margrethe Vestager, who will meet top tech bosses California this week, said "it is fundamental that these new markets stay competitive".
"We are inviting businesses and experts to tell us about any competition issues that they may perceive in these industries, whilst also closely monitoring AI partnerships to ensure they do not unduly distort market dynamics," she said.
Alongside meetings with Apple boss Tim Cook and Google Chief Sundar Pichai, Vestager is also set to hold talks with two top executives from OpenAI.
The launch of the ChatGPT chatbot in November 2023 -- which became at the time the fastest-adopted app -- marked the popular arrival of the AI revolution.
microsoft last year pledged to invest $13 billion in OpenAI and got a seat on the board.
Britain's competition watchdog last month also said it was looking into whether the partnership between Microsoft and OpenAI resembles a merger.
aro/del/rmb/lth
Recent Stories
Interior Minister assures protection of Chinse nationals in Pakistan
Govt's wheat procurement target increased upto 1.8 metric tons
SC forms six-member bench to IHC judges'letters
PM to take part in World Economic Forum meeting in Riyadh today
Punjab Police officer Riffat Bukhari wins global award
Punjab Police Hero ASP Shehbano Naqvi’s wedding festivities spark joy
TECNO CAMON 30 Series set to launch at a grand fashion show in Karachi
Record growth being witnessed in IT exports due to SIFC’s efforts
Pakistan, Canada agree to enhance cooperation in all fields
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 27 April 2024
Today Gold Rate in Pakistan 27 April 2024
HEC reviews curricula for environmental sciences degree programme
More Stories From World
-
Hurricanes suffer first defeat, lead Super Rugby by one point
4 minutes ago -
Tennis: ATP/WTA Madrid Open results -- 1st update
14 minutes ago -
Pakistan Embassy in Beijing hosts Pakistan Professional and Student Forum
24 minutes ago -
Tennis: ATP/WTA Madrid Open results
1 hour ago -
Russia hits Ukrainian energy sites in 'massive' overnight attack
1 hour ago -
Estanguet emotional as Olympic torch sets sail for France
1 hour ago
-
Italy summons Russian envoy over Ariston subsidiary takeover
1 hour ago -
Benin police fire tear gas to break up union protest
2 hours ago -
Estanguet emotional as Olympic torch sets sail for France
3 hours ago -
Olympic torch begins its voyage to France
3 hours ago -
Haliburton hits winner as Pacers hold off Bucks, T'Wolves push Suns to brink
3 hours ago -
Star K-pop producer causes online stir after lashing out at industry bosses
3 hours ago