walt disney company The $1 billion equity investment in OpenAI will be a “gateway” into artificial intelligence and will have a significant long-term impact on Disney’s business, Disney CEO Bob Iger said Thursday on CNBC’s “Squawk on the Street.”
“We want to be a part of what Sam is building, what his team is building,” Iger said. “I think this is a good investment for the company.”
Disney on Thursday announced an investment in OpenAI as part of a deal that will allow users to create AI videos using copyrighted characters on the startup’s app Sora.
More than 200 characters, including Mickey Mouse, Darth Vader and Cinderella, will be available on the platform through a three-year licensing agreement.
As new AI products explode into the mainstream, several media companies, including Disney, have taken legal action to protect their intellectual property. Iger said Disney is “aggressive” in protecting its intellectual property, but is “very impressed” with OpenAI’s growth and willingness to license content.
“No generation of humans has ever stopped technological progress, and we have no intention of trying,” Iger said. “We have always felt that if that happens, we should ride it, including disrupting our current business model.”
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