Microsoft-backed OpenAI has released GPT-4 Turbo, its most powerful AI to date

OpenAI presented its new, more powerful GPT-4 Turbo artificial intelligence model, as well as a new option that will allow users to create bespoke versions of its ubiquitous ChatGPT chatbot. It is also lowering the rates that businesses and developers must pay to use its software.

The developments from OpenAI illustrate that one of the most exciting startups in technology is aggressively upgrading its offerings in order to keep ahead of competitors like Anthropic, Google, and Meta in the AI arms race.

ChatGPT, which set records as the fastest-growing consumer app in history just months after its inception, now has approximately 100 million weekly active users, according to OpenAI.

According to OpenAI CTO Mira Murati, more than 92% of Fortune 500 firms use the platform, up from 80% in August, and they cover industries such as financial services, legal applications, and education.

According to PitchBook, Microsoft’s expanded investment in OpenAI earlier this year — an additional $10 billion — made it the year’s largest AI investment, and in April, the startup reportedly closed a $300 million share sale at a valuation of $27 billion to $29 billion, with investments from firms such as Sequoia Capital and Andreessen Horowitz. OpenAI was reportedly in talks last month to secure a deal that would result in a $80 billion valuation.

As generative AI-related legal action becomes more common, Altman said on Monday that OpenAI will «step in and defend our customers» and «pay the costs incurred if you face legal claims around copyright infringement.» Similar assertions have been made by Google, Microsoft, and Adobe.