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5 mentions found


☆ 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
☆ AI startups should brace for a wave of down rounds, investors say. Here's how it might play out.
  + stars: | 2024-09-24 | by ( Riddhi Kanetkar | ) www.businessinsider.com   time to read: +5 min
Read previewDown rounds and flat rounds for VC-backed startups have hit an all-time high this year since 2014. And AI startups, which have been the darlings of the tech ecosystem since late 2022, aren't exempt from the trend. The deal was seen by some investors as an omen for a wider phenomenon in the AI ecosystem — an impending wave of flat rounds and down rounds. "Investors went crazy for AI startups with zero revenue, at higher valuations, which will be an issue," said Umesh Padval, managing director at Thomvest Ventures. Down rounds are on the riseIn 2022, 90.2% of AI startups in the US raised up rounds, while 6.5% raised down rounds, according to PitchBook data.
Persons: —, we've, Andreas Riegler, Umesh Padval, Padval, Francesco Ricciuti Organizations: Service, Microsoft, Business, Big Tech, APEX Ventures, Jasper, Google, Thomvest Ventures, Runa Locations: London
☆ Mathilde Collin built a $1.7 billion email startup by the time she was 32. She's now stepping back at an inflection point for Front.
  + stars: | 2024-03-25 | by ( Melia Russell | ) www.businessinsider.com   time to read: +7 min
And so last fall, Collin kicked off a search for a new board director, to fill in her knowledge gaps. Now, Collin says she will step down as chief executive of Front after her hunt for a board director took an unexpected turn. She will move into an executive chair role on April 15, when O'Connell takes up the mantle as chief executive, Front tells Business Insider exclusively. Known for her sharp wit and radical candor, Collin started the business out of college in her native France. Advertisement"We're at a scale now where the CEO can't come in and sort of wave the proverbial magic wand and make things happen," said Mohammed Attar, Front's chief product officer.
Persons: Mathilde Collin, Collin, Dan O'Connell, O'Connell, Garry Tan, Paul Buchheit, Jack Altman, Kyle Vogt, Cruise, Jeff Lawson, Mohammed Attar, —, Josh Stein, Stein Organizations: Service, Business, Dialpad, Front Locations: San Francisco neighborhood, France, Dialpad
☆ Microsoft hires DeepMind co-founder Mustafa Suleyman as CEO of new AI unit
  + stars: | 2024-03-19 | by ( Jordan Novet Hayden Field | Jordan Novet | Hayden Field | ) www.cnbc.com   time to read: +2 min
Mustafa Suleyman, Co-founder Inflection.ai & DeepMind, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Microsoft said Tuesday it has hired Mustafa Suleyman, a co-founder of artificial intelligence startup DeepMind that Google acquired in 2014, to lead Copilot AI initiatives. Suleyman will become an executive vice president and CEO of Microsoft AI, reporting to CEO Satya Nadella. The new Microsoft AI group will work on Copilot, which appears in Bing, Windows and other Microsoft products. WATCH: We've hit 'peak hype' of the AI revolution, says DeepMind co-founder Mustafa Suleyman
Persons: Mustafa Suleyman, Inflection.ai, Suleyman, Satya Nadella, DeepMind, Elon Musk, Karén, Nadella, Mustafa, Demis Hassabis, Hassabis Organizations: Microsoft, Google, Windows, Consumer Locations: Davos, Switzerland, Bing
☆ Bill Gates says A.I. could kill Google Search and Amazon as we know them
  + stars: | 2023-05-22 | by ( Jonathan Vanian | ) www.cnbc.com   time to read: +2 min
Microsoft co-founder Bill Gates reacts during a visit with Britain's Prime Minister Rishi Sunak of the Imperial College University, in London, Britain, February 15, 2023. Microsoft co-founder Bill Gates believes the future top company in artificial intelligence will likely have created a personal digital agent that can perform certain tasks for people. Gates said there is a fifty-fifty chance that this future AI winner will be either a startup or a tech giant. Until then, companies will continue embedding so-called generative AI technologies akin to OpenAI's popular ChatGPT into their own products. Watch: Bill Gates says OpenAI's GPT is the most important tech advance since the 1980's
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