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☆ There are 3 signs that generative AI might be reaching peak market froth — and it's not just OpenAI
▼ + stars: | 2024-10-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +8 min

There are signs across AI models, chips, and new form factors that the market is getting frothy. Investors spent the summer wondering if top AI stocks could continue to justify soaring valuations in the face of absent returns from their massive AI spending. Now, signs have emerged that they're not yet done with generative AI mania. OpenAI reaches dizzying new heightsSam Altman's OpenAI secured a $157 billion valuation after raising $6.6 billion in its latest funding round. In short, a lossmaking startup must justify its $157 billion valuation.

Persons: Cerebras, —, Andrew Feldman, Ramsey Cardy Cerebras, here's, Abu, Cerebras —, Altman's OpenAI, OpenAI, Elon Musk's xAI, OpenAI's, Ilya Sutskever, Gary Marcus, OpenAI's Sam Altman, David Sacks, Darius Rafieyan, Mira Murati, Mark Zuckerberg, Andrej Sokolow, frothiness, Jensen Huang, Alex Heath, Rahul Prasad, Snapchat Organizations: Nvidia, Service, Investors, Microsoft, Saudi Aramco, Bloomberg, OpenAI, LLMs, Financial Times, Anthropic, Craft Ventures, Tiger Global, The New York Times, Getty, company's Connect, Meta, Orion Locations: Sunnyvale, Abu Dhabi, Silver, Saudi, Silicon Valley, —

☆ The 'worst moment' of Sam Altman's OpenAI ousting happened just before midnight, Airbnb CEO said
▼ + stars: | 2024-06-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Airbnb CEO Brian Chesky said the "worst moment" of Sam Altman's ousting happened around midnight. Chesky said Altman expected to get reinstated but OpenAI then announced Emmett Shear as CEO. Altman planned to go to Microsoft but Chesky said his friendship with Shear helped open a dialogue. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the hardest moment happened at midnight about two days in, according to an interview with Airbnb CEO Brian Chesky on CNBC.

Persons: Brian Chesky, Sam Altman's, Chesky, Altman, OpenAI, Emmett Shear, Shear, —, Sam Altman Organizations: Microsoft, Service, CNBC, Business Locations: OpenAI

☆ Sam Altman's OpenAI is paying publishers big money for content. That could be a lifeline — or blow up in their faces.
▼ + stars: | 2024-06-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +8 min

You've heard this one before: A big tech company is offering a lifeline to distressed media companies. That's the argument against a slew of deals publishers have been making with Sam Altman's OpenAI over the past few months. But the OpenAI deals, the publishers emphasize, are straightforward licensing deals for stuff they're already making. AdvertisementWhich means — they say — at the end of these deals, publishers won't have to regret investing in another defunct Big Tech project. But the thing I'm most worried about as someone who makes words for a living isn't a replay of the old Facebook/Apple/Google deals publishers now regret.

Persons: You've, It's, Sam Altman's OpenAI, Axel Springer, Rupert, Barry Diller's Dotdash Meredith, Laurene Powell, haven't, OpenAI, it's, Jessica Lessin, Lucy, Charlie Brown, —, Let's, Bob Iger, ChatGPT, that's Organizations: Service, Vox Media, Rupert Murdoch's News Corp, Laurene Powell Jobs, Atlantic Media, Apple, Google, Facebook, The New York Times, Big Tech, New York Times, Microsoft, Netflix, ABC, Disney

☆ Elon Musk's xAI says it just raised $6 billion in funding, pulling in big bucks from Sequoia Capital and Saudi Arabia
▼ + stars: | 2024-05-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Read previewElon Musk's xAI just took a critical step in building up its war chest to take on Sam Altman's OpenAI. The AI startup said in a blog post on Sunday that it had raised $6 billion for their Series B funding round. Related stories"There will be more to announce in the coming weeks," Musk said in an X post on Monday morning. AdvertisementThe mercurial billionaire said in a subsequent X post that xAI's pre-money valuation was $18 billion. Pre-money valuation was $18B — Elon Musk (@elonmusk) May 27, 2024Sunday's announcement marks the first time xAI has talked about its fundraising efforts.

Persons: —, Elon Musk's xAI, Sam Altman's OpenAI, Andreessen Horowitz, Musk, Elon, xAI, he'd, Altman, OpenAI Organizations: Service, Sequoia Capital, Saudi Arabia's, Business, Bloomberg, Financial Times, The New York Times, OpenAI, Microsoft, Google Locations: Saudi, Saudi Arabia's Kingdom

☆ Google's Gemini may just be about to make Elon Musk and Sam Altman really jealous
▼ + stars: | 2024-03-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Apple and Google are reportedly in talks to integrate Google's Gemini into the iPhone. The deal, if finalized, would be a blow to Google's competitors like Elon Musk's xAI and Sam Altman's OpenAI. AdvertisementApple and Google are in talks to integrate Google's AI model Gemini into the iPhone, Bloomberg's Mark Gurman reported on Monday. The new Gemini-powered features could be introduced to iPhones this year, Bloomberg reported, citing people familiar with the negotiations. Representatives for Apple and Google declined to comment on the talks when contacted by Bloomberg.

Persons: Elon Musk's xAI, Sam Altman's OpenAI, —, Mark Gurman Organizations: Apple, Google, Bloomberg, Service

☆ Anthropic-backer Menlo Ventures is preparing for a 'gold rush' of AI infrastructure startups. Here's why.
▼ + stars: | 2024-03-18 | by ( Samantha Stokes | Darius Rafieyan | ) www.businessinsider.com time to read: +6 min

Menlo Ventures has been an early backer of AI powerhouses including security startup Abnormal, LLM developer Anthropic, and vector database Pinecone. "AI itself is not new, I think it's just how mainstream it's become," Matt Murphy, a Menlo Ventures partner who invests in SaaS and robotics startups, told Business Insider in an interview. AI's "picks and shovels"Murphy and fellow Menlo Ventures partner Tim Tully say that 2024 will be a big year for the "picks and shovels" of AI. There's room in the game for more LLMsSam Altman's OpenAI has been at the forefront of the generative AI revolution. Other vector database startups including Chorma and Weaviate have also raised millions from VCs.

Persons: —, Siri, Warby Parker, Matt Murphy, OpenAI, AI's, Murphy, Tim Tully, Tully —, Sana, Lindy, we've, Tully, Sam Altman's OpenAI, it's Organizations: Service, Valley's, Menlo Ventures, Business, Menlo, Cisco, Oracle, Meta, Google Locations: Snowflake, Anthropic

☆ Silicon Valley's elite are moralizing about the future of AI
▼ + stars: | 2024-03-04 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

It has reignited the savior complex of Silicon Valley's biggest personalities too. AdvertisementThough some questions are being asked about how much of a case Musk has here, the whole saga has offered plenty of incentive to Silicon Valley's more opinionated leaders to moralize on the future of AI. The open option — in theory at least — champions AI models that are transparent about how they're trained and collectively developed by a global community of developers. (2) Big companies, small companies, independent developers, and open source communities should be free to pursue AI. But which side of the battle the rest of Silicon Valley's AI leaders fall on will be watched just as closely.

Persons: —, Elon, Sam Altman's OpenAI hasn't, OpenAI —, they're, Meta, Sam Altman, Andrew Caballero, Reynolds, Marc Andreessen, Vinod Khosla, Andreessen, shouldn't, isn't, 2VqL6T5qZe, Marc Andreessen 🇺🇸 ( Organizations: Service, Microsoft, OpenAI, Business, Getty, Manhattan, Chinese Communist Party, Big Locations: China, San Francisco, jure

☆ Sam Altman's OpenAI wants to get humanoid robots talking. Here's why.
▼ + stars: | 2024-02-29 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

OpenAI has partnered with Figure AI, a startup developing humanoid robots. OpenAI believes the agreement will open up new pathways for robots to "help in everyday life." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOpenAI is betting big on humanoid robots. The ChatGPT creator has signed a collaboration agreement with Figure AI to "develop next generation AI models" for the robots as it believes they can "help in everyday life."

Persons: OpenAI, —, Jeff Bezos, Brad Lightcap, Peter Welinder, OpenAI's, Brett Adcock, Adcock, OpenAI didn't Organizations: Service, Business, Microsoft, NVIDIA, Amazon, US Chamber of Commerce

☆ Elon Musk is accusing Google of running 'insane racist, anti-civilizational programming' with its AI
▼ + stars: | 2024-02-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

That night, Musk wrote multiple posts on X slamming Google. "I'm glad that Google overplayed their hand with their AI image generation, as it made their insane racist, anti-civilizational programming clear to all," Musk wrote in one of the posts. "This nut is a big part of why Google's AI is so racist & sexist," Musk wrote on X on Thursday. pic.twitter.com/NC9nIi2GcV — Elon Musk (@elonmusk) February 22, 2024BI ran two separate searches on Google with the same keywords Musk used. Representatives for Google did not immediately respond to a request for comment from BI sent outside regular business hours.

Persons: —, Elon, Musk, Gemini, that's, Jack Krawczyk, Krawczyk, I’m, NC9nIi2GcV — Elon, Sam Altman's OpenAI, Grok Organizations: Service, Google, Business, Business Insider, BI

☆ Microsoft's market cap hit $2.89 trillion as it overtook Apple as the world's most valuable public company
▼ + stars: | 2024-01-13 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

Microsoft's market cap hit $2.89 trillion on Friday as it knocked Apple off the top spot. Meanwhile, slower iPhone sales in China have made life trickier for Apple. AdvertisementMicrosoft closed out Friday as the world's most valuable publicly traded company, pushing its long-time rival Apple off the top spot. The tech giant hit a market cap of $2.89 trillion while Apple's fell slightly to $2.87 trillion. The first downgrade by UK bank Barclays wiped out more than $100 billion in market cap in a single day.

Persons: Apple, —, Sam Altman's OpenAI, Minerva, Kathleen Brooks, hasn't Organizations: Apple, Service, Microsoft, CNBC, NASDAQ, Apple Watch, Barclays, Huawei, Jefferies Locations: China, San Francisco, California

☆ How Sam Altman's OpenAI drama highlighted the debate splitting Silicon Valley: Are you an e/acc or decel?
▼ + stars: | 2023-12-07 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Read previewSam Altman's brief ousting as OpenAI CEO didn't just thrust the company further into the global spotlight amid reported personality clashes. It's also highlighted a bigger ethical debate in Silicon Valley: how fast companies should move when pushing out AI technology. Broadly speaking, the debate lies in whether you think that moving full-speed ahead on AI technology will save the world or you think the industry needs to slow down. One key Silicon Valley backer of the idea is veteran venture capitalist Marc Andreessen . His advice to Silicon Valley: "I would encourage any watchers of the industry to not get stuck in a divisive set of rhetoric."

Persons: —, Sam Altman's, didn't, It's, Altman, he's, you've, Marc Andreessen, Elon Musk, Peter Thiel, Sam Bankman, Helen Toner, Tasha McCauley, Toner, McCauley, Altman's, EAs —, Sriram Krishnan, Andreessen Horowitz, — Sriram Krishnan, Gaurab Bansal Organizations: Service, Business, acc, EA, Elon, Wall Street Journal, EAs, Labs, US Department of Commerce, Innovation Labs Locations: Silicon Valley, Silicon

☆ Goldman Sachs is using ChatGPT-style A.I. in house to assist developers with writing code
▼ + stars: | 2023-03-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Goldman Sachs is experimenting with generative AI tools internally to help its developers automatically generate and test code, the company's chief information officer told CNBC. "Developers are already using some of the assisted coding technology," Argenti told CNBC's Arjun Kharpal at the Goldman Sachs technology symposium on Tuesday. Generative AI refers to a group of products that produce human-like text or images in response to written prompts from users. Goldmans' interest in generative AI products comes despite pushback from some banking giants on the use of ChatGPT internally. In some cases, developers have been able to write as much as 40% of their code automatically using generative AI, he said.

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