News Corp and OpenAI agree multi-year partnership
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The news: News Corp and OpenAI have agreed a 'landmark' multi-year partnership that will see the media group's news content brought to ChatGPT.
The numbers: News Corp shares were up 4.7% to USD27.17 ($41.05) by 8:00am AEST in after-hours trading on the Nasdaq, following the announcement.
The context: In a joint media release, the companies said that the partnership will give Microsoft-backed OpenAI permission to display content from News Corp mastheads in response to user questions and to enhance its products.
They said the "ultimate objective" is to provide people with the ability to make informed choices based on reliable information and news sources.
OpenAI will receive access to current and archived content from News Corp’s major news and information publications, such as The Wall Street Journal, The Times, and The Australian, Barron’s, MarketWatch, Investor’s Business Daily, FN, New York Post, The Sunday Times, The Sun, news.com.au, The Daily Telegraph, The Courier Mail, The Advertiser, and Herald Sun.
The partnership does not include access to content from any of News Corp’s other businesses.
In addition to providing content, the companies said News Corp will "share journalistic expertise to help ensure the highest journalism standards are present" across OpenAI’s offering.
Earlier this month, New Corp's CEO Robert Thomson noted that the company is "working to promote our quality journalism in the age of generative AI", having progressed talks with "four or five" generative AI firms during the quarter.
OpenAI has already signed similar agreements with other media groups such as Politico parent company Axel Springer, the Associated Press and the Financial Times. Meanwhile the New York Times and the Chicago Tribune have sued the artificial intelligence company for scraping their articles without payment or permission.
What they said: News Corp CEO Robert Thomson said: "We believe an historic agreement will set new standards for veracity, for virtue and for value in the digital age."
"We are delighted to have found principled partners in Sam Altman and his trusty, talented team who understand the commercial and social significance of journalists and journalism," he said.
OpenAI CEO Sam Altman said: “We greatly value News Corp’s history as a leader in reporting breaking news around the world, and are excited to enhance our users’ access to its high-quality reporting. Together, we are setting the foundation for a future where AI deeply respects, enhances, and upholds the standards of world class journalism".
The sources: News Corp media release, OpenAI media release
