OpenAI’s recent agreement to license Disney characters for its Sora video app involves no cash payment, instead offering Disney stock warrants in the AI company.
According to reporting from Bloomberg, citing people familiar with the matter, the deal structure allows Disney to purchase additional shares in OpenAI beyond the previously announced $1 billion investment. These sources indicated the arrangement aims to align both companies’ financial interests in Sora’s success.
Disney is essentially foregoing immediate licensing revenue from its valuable intellectual property in exchange for potential greater returns later if OpenAI’s valuation continues to grow.
The companies announced last week that Disney would permit OpenAI’s Sora to access over 200 animated and creature characters, including Mickey Mouse and Cinderella. As part of the agreement, Disney committed to a $1 billion stake in OpenAI at its current $500 billion valuation.
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