A University of Michigan flag. Jaime Crawford/Getty Images University of Michigan's $20 million bet on OpenAI could yield billions, a court exhibit shows. The school's investment arrived before Microsoft poured billions into the AI lab. OpenAI's meteoric rise means the potential for huge windfalls for early investors. University of Michigan made a very good, very early bet on OpenAI. Investors running the public school's endowments put $20 million into one of the AI lab's earliest fundraising efforts, according to an exhibit in the ongoing Elon Musk and Sam Altman litigation. The University of Michigan moved in before Microsoft invested billions into OpenAI and before ChatGPT's release kicked off the modern AI boom. The Ann Arbor school stands to make a fortune. While the document is unclear about the exact terms of Michigan's stake, the university is sitting pretty. When it contributed $20 million, it set a "target redemption amount" of $2 billion.…