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- OpenAI Billion Dollar Valuation Story 😲
OpenAI Billion Dollar Valuation Story 😲
Plus: Meta AI for Advertisers + Open AI Chips + Prompts and more...
Sharyph
October 06, 2023
Welcome to the AiRoad created and delivered by Sharyph where we break down the latest in the Artificial Intelligence world for you.
I am continuously trying to make this newsletter better and better. Over the past couple of weeks, I got really interesting ideas to make this newsletter great. So, I have decided to include an interesting AI-related story in each newsletter.
By the way, sorry that I couldn't send the newsletter as per the routine; I wasn’t feeling well…also I am getting married in 2 weeks, so there is so much going in my head right now. And Thank you for your support and understanding. I always welcome your suggestion and feedback.
Thank you!
Now let’s get back to Today’s Edition.
📒In Today's Edition:
🛠️ Top 5 AI Tools
👨💻 Interesting AI Story
📰 AI News
🖼️ Prompt
Read time: 5 minutes
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👨💻 Interesting AI Story
Inside OpenAI's Billion Dollar Valuation: An AI Revolution in the Making?
OpenAI has recently become the talk of the town for its skyrocketing valuation and ambitious projects.
Let's dive into the enchanting tale of this AI giant and its future undertakings.
OpenAI is on the cusp of an impressive valuation jump. From its last reported worth, the company is now potentially valued at between $80-90 billion.
The big number isn't just for show. OpenAI aims to generate a staggering $1 billion in revenue this year. The financial world is abuzz: how did they achieve such growth so quickly?
The AI iPhone Dream
The secret sauce might be a collaboration that's underway. Imagine the geniuses behind the iPhone teaming up with OpenAI to craft the "iPhone of AI."
That's precisely what's happening.
With Johnny I from the iPhone's creation and Masi Yoshian from SoftBank joining hands, the dream of a consumer AI product is closer to reality.
SoftBank isn't just bringing expertise to the table. They're considering an investment of a billion dollars to get this project off the ground. This collaboration intends to be a melting pot of talent and technology, bringing the best of all worlds.
In this narrative, Microsoft plays a crucial role. Owning 49% of OpenAI, they're likely rubbing their hands in glee with the prospect of the company's growth.
However, a mystery surrounds Sam Altman, he claims he won't earn a penny from this rise in valuation, holding no equity. Intriguing, isn't it?
It's essential to remember OpenAI's origin.
They began their journey as a nonprofit with a mission to ensure that artificial general intelligence benefits all of humanity. But paths change, and so did OpenAI's, adapting to the dynamic tech world.
OpenAI's fundraising isn't just about attracting investors with promises of massive returns. They have a unique approach:
Offer high returns, but cap them at a certain valuation.
This means early believers in OpenAI could see substantial benefits, but only up to a point.
Every tale has its share of mysteries, and OpenAI's story is no different. Whispers surround Sam Altman's actual hold over OpenAI.
Does a foundation he controls have more influence than it seems? And let's not forget Elon Musk, the tech titan who was once OpenAI's knight in shining armor with his significant investment.
Yet, today, he reportedly owns no part of it.
OpenAI's journey is an unfolding epic in the tech world.
With mammoth valuations, revolutionary collaborations, and enigmatic ownership structures, it's a saga filled with intrigue and promise. As they say in the tech world, "Stay tuned!" for what comes next in the thrilling story of OpenAI.
Do you find this type of stories interesting? |
📰 AI News
1. OpenAI Explores Manufacturing AI Chips
OpenAI, known for ChatGPT, is examining the possibility of producing its own AI chips. They have even considered the acquisition of potential chipmakers.
Here are the Key Takeaways:
OpenAI considers producing its own AI chips and potential acquisitions.
Currently dependent on expensive AI chips, mainly from Nvidia.
CEO's Stance: Sam Altman highlights GPU shortage and high hardware operational costs.
If ChatGPT's scale reaches 10% of Google search, it would need $48.1B in GPUs initially.
If OpenAI produces its own chip, they'll align with companies like Google and Amazon in strategy.
Custom chip development is resource-intensive and carries inherent risks.
Microsoft's Play: They're developing a custom AI chip; potential distancing from OpenAI hinted.
Rising AI Chip Demand: ChatGPT's launch has amplified demand, with Nvidia leading the market.
2. Meta's New Generative AI Tools for Advertisers
Meta Platforms is introducing generative AI tools for advertisers. These tools can autonomously generate content, such as image backgrounds and various text iterations.
Here are the Key Takeaways:
Meta started experimenting with these tools in May, initially giving access to a select group of advertisers.
These AI tools will be integrated into Meta's Ads Manager, with full rollout anticipated to finish by next year.
This initiative signifies Meta's (owner of Facebook and Instagram) inaugural dive into incorporating generative AI tech, leveraging extensive historical data to generate new content like writing, artwork, and software code.
🖼️ Prompt - Midjourney
Prompt:
“Close-up photograph of a hermit crab nestled in wet sand, with sea foam nearby and the details of its shell and texture of the sand accentuated.”
Hope this is helpful.
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That's all for now! 👍️
If you've got something cool you'd like to share, I’d absolutely love to hear from you! Feel free to slide into my Twitter DMs at @sharyph_ Can't wait to chat with you!
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