Shark Tank’s Kevin O’Leary is in talks with ChatGPT creators OpenAI for an equity investment in the company

• In an exclusive interview with Insider, Kevin O’Leary shared that he is in talks to invest in OpenAI.
• O’Leary said he wants to cement a deal to support the ChatGPT creator in the next 90 days
• “I like investing in first movers because they have a marketing advantage.”

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Shark Tank star Kevin O’Leary is in talks to invest in ChatGPT creator OpenAI, the investor and market personality Insider said in an interview.

He said he couldn’t share details of the investment, such as the dollar amount, but noted a deal is likely to close in the next 90 days.

“I’m looking at the ChatGPT deal from an equity perspective right now and deciding what allocation I want to put into it,” O’Leary said. “I’m very happy to be offered a piece of it.”

OpenAI secured a $10 billion investment from Microsoft last month, a move O’Leary hailed as a shareholder of the tech giant.

“I like investing in first movers because they have a marketing advantage,” O’Leary said in a call Tuesday.

The natural language bot has gone viral since its launch in November as users turn to it for a range of tasks including writing articles, emails and even dating app messages.

The craze has sparked a surge of investors into anything even remotely related to artificial intelligence, with company stocks soaring on small space-related updates.

O’Leary said that he thinks OpenAI’s rating is “very, very extreme” because the technology is so new.

However, the veteran investor added that the same criticism was leveled at many emerging technologies in their early days, including Amazon in the 2000s, of which he was also an early supporter. Overall, O’Leary says his investments prioritize diversification over other factors.

“Whatever portfolio that position goes into, if we take a position, it won’t be more than 5% of it,” he said. “Either it will do well or it won’t, but I’m not going to take it down the ship or sell the farm for it. I know there’s going to be a lot of competition and a lot of disruption, but I definitely like being at the forefront of things.”

Source: markets.businessinsider.com