In addition to a three-year licensing agreement, Disney will also become a major customer of OpenAI, the two companies said in a joint statement.
The Walt Disney Co. (DIS) on Thursday announced a $1 billion equity investment in OpenAI, allowing users to generate and share social videos of more than 200 Disney, Marvel, Pixar, and Star Wars characters using the Sora AI video generator.
According to the agreement entered into between Disney and OpenAI, the former will also receive warrants to purchase additional equity in the AI startup.
In addition to a three-year licensing agreement, Disney will also become a major customer of OpenAI, the two companies said in a joint statement. Disney will use OpenAI’s APIs to build new products, tools, and experiences, including for Disney+, and also deploy ChatGPT for its employees.
Disney shares were up 0.2% in Thursday’s pre-market trade, while OpenAI is not publicly listed. Retail sentiment on Stocktwits around Disney trended in the ‘bearish’ territory, while users felt ‘neutral’ about OpenAI at the time of writing.
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