I get the appetite for frontier models. But why not just invest in Google. Do they really expect the return profile of OpenAI to be vastly different than Google’s Gemini?
Google has little need for more money, so the price will be much higher. OpenAI being a separate entity also means Google's competitors (Microsoft, Amazon) can invest there without looking silly.
I imagine they get a bigger slice of the pie with OpenAI than they do with Google, an extremely mature company who’s had investors buying in for 30 years.
Alphabet’s market cap is $3.5 trillion, compared to OpenAI’s $850 billion reported here.