The Information and the Wall Street Journal reported that OpenAI was in advanced talks with Microsoft to raise more funding. According to The Information, OpenAI had been valued at nearly $20 billion in a stock sale the previous year. Microsoft had invested $1 billion in 2019, and the reports of a deepening relationship came about a month before the launch of ChatGPT.
20October 2022
Microsoft reported in talks to boost OpenAI stake at ~$20B valuation
Neither company officially confirmed the talks, amounts, or valuation at the time; based on reporting by The Information and the Wall Street Journal citing people familiar with the matter.