OpenAI and CDP Join Forces for AI Growth in Italy

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

In a joint statement on Wednesday, the two organizations announced that the ChatGPT maker would invest directly and indirectly in startups focused on AI-based products or services through CDP’s venture capital arm.

The agreement aims to provide Italian companies with access to OpenAI’s advanced technologies and funding from U.S. venture capitalists.

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

This agreement comes after 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, as stated by both CDP and OpenAI.

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