OpenAI, Italian state lender CDP teams up to use AI in startups By Reuters

MILAN (Reuters) – OpenAI and Italy’s state lender CDP have signed a memorandum of understanding to support the adoption of artificial intelligence (AI) by Italian startups and innovative firms.

In a joint statement on Wednesday, the two companies said the ChatGPT maker will invest directly and indirectly in start-ups developing AI-based products or services through CDP’s venture capital arm.

The deal should give Italian companies access to OpenAI’s advanced technologies and funding from American venture capitalists, the statement added.

In April, CDP Venture Capital said it would invest 1 billion euros ($1.11 billion) in AI and cybersecurity over the next five years.

The agreement follows a meeting between Italian Prime Minister Giorgia Meloni and OpenAI CEO Sam Altman on the sidelines of the UN General Assembly in New York last week, CDP and OpenAI said.

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