OpenAI partners with Italy’s CDP to boost AI innovation among Italian startups

OpenAI and Italy’s state lender CDP have teamed up to boost artificial intelligence (AI) adoption among Italian startups and innovative companies.

In a joint statement on Wednesday, the two announced that OpenAI would invest in startups focused on AI-based products and services, working through CDP’s venture capital arm. With this partnership, Italian startup companies will gain access to OpenAI’s technology and attract funding from U.S. venture capital firms, Reuters reported.

In April, CDP Venture Capital committed to investing 1 billion euros ($1.11 billion) in AI and cybersecurity over the next five years. This latest collaboration follows a recent meeting between Italian Prime Minister Giorgia Meloni and OpenAI CEO Sam Altman at the UN General Assembly in New York.

CDP Venture Capital, a Cassa Depositi e Prestiti (CDP) subsidiary, plays a key role in Italy’s economic development. As the largest venture capital manager in Italy and one of the biggest in Europe, CDP Venture Capital supports startups and innovative small businesses across sectors, helping to build a solid market infrastructure that fosters growth.

OpenAI was founded in 2015 by Sam Altman and Elon Musk. The startup started as a nonprofit focused on developing safe and beneficial artificial general intelligence. In 2020, it shifted to a commercial model, marking a significant shift in its strategy. Despite internal challenges, including Altman’s brief departure in November, OpenAI remains at the forefront of the AI industry, driven by the success of ChatGPT, launched in 2022.