One easy way to invest money in ChatGPT today (only need $1)
ChatGPT is obviously of great interest to those of us in the writing business, but what if you just wanted to invest in ChatCPT as a business?
Well, actually, there is a way — and you only need $1 to start.
As I wrote in this lengthy piece about how to build a stock portfolio you can trust in a recession, I own stock in all companies that I use on a weekly basis.
That’s one of the reasons I’ve already started investing in OpenAI, which is the parent company of Chat-GPT.
I don’t use ChatGPT for writing because I don’t need it. I was a professional journalist for more than 10 years and I’m a writer/editor in my current day job.
What decades of experience have given me is the ability to churn out pretty high-quality content in very little time.
As I’ve written on numerous occasions, it only takes me about 45 minutes to write a 1,000–1,300 word article.
As a writer, ChatGPT is a crutch I don’t need or really have any desire to explore.
However, I do frequently use Dall-E 2 to illustrate my articles like this one, this one, and this one. Digital illustrations from Dall-E 2 also serve as backgrounds for a lot of videos on my YouTube channel.
Dall-E 2, of course, is owned by ChatGPT parent company OpenAI.
Here’s how I got started with just $1.
How to invest in ChatGPT
OpenAI is a private company, which means you can’t just buy shares of it on a stock exchange.
Unless you’re a venture capitalist with a ridiculous amount of money, it’s hard to get in on the ground floor of these types of companies.
The great news for those who are interested in investing in ChatGPT, however, is that the company is backed by a much larger, publicly traded company that is currently integrating ChatGPT technology into its own digital offerings.
And that company is a blue-chip monster that also (bonus!) pays you a cash dividend to hold onto it.
That company is Microsoft, and it’s one of my biggest investment holdings.
Investing strategy
Again, if you’re interested in hearing about how I pick companies to invest in, I suggest you check this article out, but one thing I do is buy what I call units of a stock rather than shares.
So let’s say I want to invest in a company and I don’t have a ton of money to throw into the market.
I might say a unit of a stock for me is one dollar’s worth.
Because I have some 200 holdings overall and that number grows constantly, I do build some positions literally $1 at a time.
For someone with more cash on hand, one unit might be $10.
The more ways I use a company’s goods or services, the more units I’ll make in a standard buy (I only buy on days when the markets are red — I like a bargain).
So for example, Chat-GPT competitor Google is my biggest holding overall.
I use Google every week in many ways, including:
- YouTube (educational entertainment)
- YouTube (publishing)
- Software (Docs, Sheets, etc.)
- Hardware (Chromebooks)
- Web search
- Paid online storage
So when I make a buy in Google, I invest six units (as opposed to say, Toyota, which only gets one).
How to start with $1 a day
“But James, how do I invest $1 in Microsoft when the shares cost $270?”
For those of you new to investing, allow me to introduce the concept of fractional trading.
Fractional trading allows you to buy fractions of a share — thus the name — instead of the whole thing.
So for example, although Costco stock is, at the time of this writing, sitting at around $500 a share, I buy two units, or $2 at a time (general food retailing, Kirkland brand products).
Fractional trading was pioneered by companies like Robinhood, SoFi, and others and it’s extremely popular (for obvious reasons) with small retail traders.
It takes seconds to download an app, minutes to set up an account, and a few seconds more to make a fractional buy and become an investor in a company.
So, within a few minutes and with a modicum of effort, you can become a Microsoft shareholder and, by extension, an investor in OpenAI and ChatGPT.
Microsoft has already integrated ChatGPT into its Bing search engine and has signaled that it sees a huge future for Artificial Intelligence.
And by buying a piece of Microsoft, you’re also investing in all the other products and services (Office, Teams, Ads, Video Games, etc.) that make it a massively profitable company.
In summary, AI is going to be a big part of our everyday lives in the very near future.
If you’re interested in investing in AI without all the risk (or capital) that comes with being an angel investor, you could do a lot worse than becoming a shareholder in a blue chip, dividend-paying company like Microsoft.
The views in this article are the personal views of the author. This commentary is provided for general informational and entertainment purposes only and should not be construed as financial, investment, tax, legal or accounting advice. It does not constitute an offer or solicitation to buy or sell any securities referred to. Consult your financial advisor prior to making financial decisions.
Folks, thank you for reading this post all the way to the end! If you enjoyed it, please give it a few claps so others can find it! I also love hearing from you in the comments!
My fellow Canadians, if you’re interested in fractional trading in companies (including Microsoft), use my affiliate link and earn up to $3,000 to get started on your investing journey.
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