American multinational media and entertainment conglomerate has thrown in a big surprise to the netizens as they reportedly announced that they have made a $1 billion equity investment in OpenAI and will allow users to make videos and more. But what is the overall deal all about? Let's delve in to know more in detail.
According to a report by Reuters, Walt Disney Company is investing $1 billion in OpenAI and will let the startup use characters from the Star Wars, Pixar and Marvel franchises in its Sora AI video generator, a crucial deal that could reshape how Hollywood makes content.
Reportedly, the three-year partnership announced that it is a pivotal step in Hollywood's embrace of generative artificial intelligence, side-stepping the industry's concerns over the impact of AI on creative jobs and intellectual property rights.
Moreover, alongside the licensing agreement, reportedly, Disney will become a major customer of OpenAI, using its APIs to build new products, tools and experiences, including for Disney+, and deploying ChatGPT for its employees. (Agencies)
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