Walt Disney Co. is investing $1 billion in OpenAI under a new commercial partnership with the ChatGPT and Sora developer.

The three-year licensing agreement will allow users of Sora, OpenAI`s artificial intelligence video tool, to create AI videos using more than 200 characters from Disney, Marvel, Pixar and Star Wars, the entertainment giant announced Thursday.

Disney is the first major company to strike a licensing deal with OpenAI on Sora, which uses generative artificial intelligence to create short videos.

"Through this collaboration with OpenAI we will thoughtfully and responsibly extend the reach of our storytelling through generative AI, while respecting and protecting creators and their works," Disney CEO Robert Iger said in a statement.

As part of the deal, Disney said it will deploy ChatGPT for its employees and use OpenAI tech to develop new products. Some user-generated Sora videos will also be made available on the Disney+ streaming service.

The agreement does not include any talent likenesses or voices, Disney said.

AI video generators like Sora have impressed users with their ability to quickly create realistic clips based on simple text prompts. At the same time, concerns over misinformation, deepfakes and copyright have swelled. In the aftermath of the Sora 2 release, clips of copyrighted characters, as well as prominent figures like Martin Luther King Jr., started cropping up on the platform.

Disney did not immediately respond to a request for comment. OpenAI directed CBS News to the press release issued Thursday.