K&L Gates LLP advised Microsoft Corporation on the deal.
Microsoft Cororation (Nasdaq “MSFT”) completed a US$1 billion equity investment in OpenAI LP to build secure, trustworthy, and ethical artificial intelligence (AI) to serve the public.
Through this partnership the companies will focus on building a platform that OpenAI will use to create new AI technologies and deliver on the promise of artificial general intelligence.
San Francisco-based OpenAI LP was founded in 2015 as a nonprofit research lab. Since its founding, OpenAI has employed artificial intelligence researchers to make advances in the field, such as teaching a robotic hand to perform human-like tasks entirely in software, cutting down the cost and time to train robots.
The group has also focused on the safety and social implications of AI, researching how computers can generate realistic news stories with little more than headline suggestions and warning researchers to consider how their work and algorithms might be misused by bad actors before publishing them.
K&L Gates team was led by Seattle corporate partner Annette Becker (Picture), and included Seattle partners Won-Han Cheng, Carley Andrews, and Mike Gearin; Wilmington (Del.) partners Eric Feldman and Lisa Stark; Washington, D.C., partner Barry Hart; and San Francisco partner Rikki Sapolich-Krol, as well as Seattle associates Teresa Teng, Caitlin Velasco, Andrea Templeton, and Washington, D.C., associate Laura Gregory.
Involved fees earner: Carley Andrews – K&L Gates; Annette Becker – K&L Gates; Won-Han Cheng – K&L Gates; Eric Feldman – K&L Gates; Michael Gearin – K&L Gates; Laura Gregory – K&L Gates; Barry Hart – K&L Gates; Rikki Sapolich-Krol – K&L Gates; Lisa Stark – K&L Gates; Andrea Templeton – K&L Gates; Teresa Teng – K&L Gates; Caitlin Velasco – K&L Gates;
Law Firms: K&L Gates;