Following Altman’s post, Shah also took to X and confirmed the purchase, indicating that he might have received OpenAI shares in exchange for the domain.

See Also: Google Delivers New AI Features To Maps, Google Earth, Waze Apps

Shah had initially bought the domain for $15.5 million in early 2023 but sold it a few months later for an undisclosed amount, which he confirmed was higher than the purchase price.

Shah’s initial purchase of chat.com was driven by his belief in the potential of Chat-based UX, facilitated by Generative AI.

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Why It Matters: OpenAI’s acquisition of chat.com follows its recent transition from a nonprofit to a for-profit model, a move that sparked a financial and governance tug-of-war with Microsoft Corporation MSFT.

The ChatGPT parent has been on a financial upswing, with its valuation soaring to $157 billion in its latest funding round. Previously, it was reported that the AI startup intends to more than double the price of its flagship product, ChatGPT, over the next five years.

Last month, OpenAI rolled out ChatGPT Search, a feature that allows the AI to crawl the web for up-to-date news, sports scores, stock quotes, and more.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.