tech
The University of Michigan may have landed the steal of the AI era
The University of Michigan's early stake in OpenAI, before Microsoft's massive investment, could yield $2 billion.
TL;DR
- The University of Michigan's endowment invested $20 million in OpenAI early on.
- The university's target redemption amount from this investment is $2 billion.
- This investment predates Microsoft's multi-billion dollar investment and the modern AI boom.
- Early investors, including the University of Michigan, have priority over Microsoft in OpenAI's payout order.
- The university's endowment also has investments in venture funds led by Sam Altman and Jack Altman.