New Delhi, June 24: OpenAI, the artificial intelligence company backed by Microsoft, has made a strategic move to acquire Rockset, a startup specialising in real-time search and analytics databases. The acquisition is aimed at enhancing OpenAI's enterprise products, including its AI model, ChatGPT.

As per a report of Times Now, OpenAI has acquired Rockset, a company founded by Indian techies Venkat Venkataramani and Dhruba Borthakur. OpenAI recently bought Rockset in a deal where the specific amount wasn't revealed, but insiders say it's worth hundreds of millions of dollars in stock. Before this, Rockset was last valued at USD 86 million in another offer this year, making it one of OpenAI's biggest acquisitions. The Rockset team is set to join OpenAI, bringing their expertise and technology into OpenAI's current framework. Meta Introduces AI Across WhatsApp, Instagram, Facebook and Messenger in India; Check Details.

The integration of Rockset's technology will likely enable OpenAI to offer better real-time analytics solutions, which is essential for the development and deployment of its AI applications. Venkat Venkataramani, the CEO of Rockset studied at NIT Tiruchirappalli and Dhruba Borthakur is an alumnus of BITS Pilani, is its CTO. Both founders previously worked as engineers at Facebook. Venkataramani also has experience from Oracle and Borthakur has worked at Yahoo.

OpenAI plans to improve its enterprise products, like ChatGPT, by acquiring Rockset. The integration will likely boost how quickly and accurately OpenAI's AI models can respond. It will likely be beneficial for businesses needing fast data searching and indexing capabilities. Microsoft Introduces Android Smartphone Access From Start Menu for Some Users After Windows 11 Update; Check Details.

About Rockset

Rockset is famous for its skill in creating databases that can quickly search and analyse data in real-time. They use artificial intelligence for different tasks like making chatbots and spotting unusual events. The company has received a total of USD 105 million from investors including Greylock, Sequoia and Hewlett Packard Enterprise's venture capital division.

(The above story first appeared on LatestLY on Jun 24, 2024 10:51 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website