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6 mentions found


☆ AI labs are fragmenting because of ego clashes and commercial pressures. It's about to drive a wave of new startups.
  + stars: | 2024-10-15 | by ( Riddhi Kanetkar | ) www.businessinsider.com   time to read: +7 min
There is an impending wave of new startups spinning out of larger AI labs, per Air Street Capital's State of AI report. AI labs are fragmenting due to ego clashes, philosophical disagreements, and commercial pressures. But as AI labs work towards the sector's holy grail, known as artificial general intelligence, those personalities have clashed — sometimes leading to a very public parting of ways. They are just some of the examples in a long line of AI labs that have fractured away from their juggernaut predecessors to form new startups. The exception would be if AI labs pivot toward building a niche model within a specific vertical, he said.
Persons: —, Ilya Sutskever, Andreessen Horowitz, StabilityAI's, H's cofounders, Sam Altman, Noel Hurley, they're, Nathan Benaich, Samir Kumar, Kumar, Peter J, Liu, Hurley, Benaich Organizations: Service, Sequoia, Black, Labs, TechCrunch, Accel, UiPath, NEA, Founders, Air Street Capital, Literal Labs, Touring Capital, Meta, Google Locations: Capital's, Paris, Sutskever
☆ OpenAI has secured a $157 billion valuation. Now comes the hard part.
  + stars: | 2024-10-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +7 min
OpenAI is now worth $157 billion, but it can't rest easy yet. Now comes the hard part: emerging victorious in a fiercely competitive AI industry. Though Sam Altman's company cemented its status as a frontrunner in the generative AI boom this week, securing a new $157 billion valuation after raising $6.6 billion of fresh capital from marquee investors, its leading position is hardly guaranteed. Sure, Altman's company now casts a massive shadow over the industry with its fresh $157 billion valuation. AI companies have been spending huge sums to purchase chips from Jensen Huang's Nvidia.
Persons: OpenAI, —, Sam Altman's, Sam Altman, Andrew Caballero, Reynolds, Altman, Elon Musk's, Ilya Sutskever, Nathan Benaich, Dario Amodei, Jensen, Jeff Chiu, Benaich, it's, VCs Organizations: Service, Valley's, Financial, Nvidia, SoftBank, Microsoft, Elon, Air Street Capital, The New York Times, Google, Big Tech, Meta Locations: Silicon Valley, AFP
☆ 'The gorilla is gone for the moment': OpenAI's rivals see ways to profit from a Silicon Valley drama
  + stars: | 2023-11-21 | by ( Riddhi Kanetkar | ) www.businessinsider.com   time to read: +5 min
An in-demand talent pool"Many previously poorly understood secrets will be more widely disseminated across the ecosystem," one European AI founder who spoke on the condition of anonymity said. But European competitors can still benefit from OpenAI's implosion. The startup had been on an uninterrupted run for the past year, said EarlyBird VC partner and Aleph Alpha investor Andre Retterath. The turmoil at OpenAI has also galvanized both AI founders and investors in Europe. The company's top expenditure, besides employee salaries, is manually cleaning and sourcing the data they use to train their models, a European VC said.
Persons: Sam Altman, unseats, Nathan Benaich, Altman, Marc Benioff, Salesforce, Silvio Savarese, Einstein, 1RXoc9ekeo, Benaich, Alpha, EarlyBird, Andre Retterath, Retterath, Mariam Pettit, they've, OpenAI, Andrew Scott, 7percent, David Grimm, Grimm, Rebecca Gorman Organizations: Air Street Capital, Business, Aleph Alpha, Microsoft, Google, Alpha, Global Founders Capital, Albion Locations: Europe, OpenAI
☆ The AI industry's dog-eat-dog race for compute power will see financial institutions launch 'GPU debt funds' in the next 12 months, VC firm predicts
  + stars: | 2023-10-12 | by ( Riddhi Kanetkar | ) www.businessinsider.com   time to read: +3 min
Generative AI startups have particularly benefited from the boom, attracting more than $18 billion in VC funding in 2023, according to Air Street Capital's State of AI report, released on Thursday. One of the main challenges facing AI startups right now is that they need to process large amounts of data in order to generate their high quality output. An alternative could be that financial institutions, such as banks, launch GPU debt funds that replace VC equity dollars that would otherwise be spent on compute funding, the report's authors predicted. GPU debt funds are also an attractive option for regulators, who are "keen to encourage responsible non-dilutive funding," which usually "carries fewer regulatory requirements than equity financing," Benaich said. "I don't think GPU debt funds are going to happen overnight, but with interest rates still high, private credit is becoming increasingly appealing," Benaich told Insider.
Persons: we've, Nathan Benaich, Benaich, It's Organizations: Street, Nvidia, Air Street Capital, Street Capital Locations: Street Capital's
☆ The FOMO is real for venture capitalists paying big premiums to invest in AI startups right now
  + stars: | 2023-06-08 | by ( Callum Burroughs | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +5 min
Investors plowed about $25 billion into AI companies in the first three months of 2023. Other US generative AI startups including Adept, Inflection AI, Pinecone and Runway have all raised major rounds in the last few months. AI is minting unicorn-valued companies even in the tech downturnFunding into AI startups was down slightly for the full-year in 2022, matching a broader downturn in tech funding. And VC funding to generative AI startups specifically, many of which are very early-stage businesses, topped $1.7 billion in Q1 2023, per Pitchbook. "No one wants to invest in AI that's going to wipe out humanity," said AlbionVC's Grimm.
Persons: Warren Buffett, OpenAI's ChatGPT, Imran Ghory, Meta, Little, ChatGPT, David Grimm, Nathan Benaich, Benaich, VCs, Geoffrey Hinton, AlbionVC's Grimm Organizations: Blossom, Google, Facebook, Air Street Capital, Investors, EU, Stanford University, Venture Locations: OpenAI, London, Europe, French
☆ Meet the $10,000 Nvidia chip powering the race for A.I.
  + stars: | 2023-02-23 | by ( Kif Leswing | ) www.cnbc.com   time to read: +8 min
Powering many of these applications is a roughly $10,000 chip that's become one of the most critical tools in the artificial intelligence industry: The Nvidia A100. The A100 is ideally suited for the kind of machine learning models that power tools like ChatGPT, Bing AI, or Stable Diffusion. Huang, Nvidia's CEO, said in an interview with CNBC's Katie Tarasov that the company's products are actually inexpensive for the amount of computation that these kinds of models need. "We took what otherwise would be a $1 billion data center running CPUs, and we shrunk it down into a data center of $100 million," Huang said. Huang said that Nvidia's GPUs allow startups to train models for a much lower cost than if they used a traditional computer processor.
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